 Income tax 2021-2022. Business use of your home. Get ready to get refunds to the max. Diving in to 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 looking at line 1 income which would have a sub-schedule basically an income statement with income and expenses. We're focusing in on the expenses here, them basically being deductions. The net then would be rolling in to line 1 income of the income tax formula as well as page 1 of the form 1040. We see here on the tax return schedule C rolling into the schedule 1 schedule 1 rolling into page 1 of the form 1040. We see here line number 8. We got the schedule C profit or loss from the business. Basically an income statement. We're now focusing in on the expenses which are basically deductions and we're looking at the