 Income tax 2021-2022, business expenses, insurance. Get ready to get refunds to the max, dive it into income tax 2021-2022. Most of this information can be found in Publication 334, tax guide for small business tax year 2021. Income tax formula line one income would be supplemented with another schedule that being basically an income statement which has income and expenses. We're focused in on the expenses, expenses basically being deduction. The net of that schedule rolling into line one income of the income tax formula as well as the form 1040 page one. We see here where we would have the schedule C bottom line rolling into schedule one bottom line of the schedule one rolling into page one of the form 1040 line number eight. This is the schedule C basically an income statement. We're now looking at.