 Income tax 2022-2023, business expenses, insurance. Let's do some wealth preservation with some tax preparation. Most of this information comes from the tax guide for small business for individuals who use Schedule C, Publication 334 Tax Year 2022. You can find on the IRS website, irs.gov, irs.gov. Looking at the income tax formula we're focused on line one income. Remember in the first half of the income tax formula is in essence an income statement, but just to outline other forms, schedules flowing into these line items. One of those, the Schedule C, having business income minus business expenses, the net business income from the Schedule C, in essence flowing in to line one income of our income tax formula. The Form 1040 noting that the Schedule C flows into the Schedule One that flows into page one Form 1040 line.