The CAO will count profit from self-employment as gross earned income when determining a budget group's eligibility and monthly assistance payment.
Exception: Income from rental property is unearned income if a rental agency manages the property and the person has no specific responsibilities for the management of the property.
The CAO will deduct any verified costs of producing or continuing the income from the gross receipts.
Allowable Costs of Doing Business - The deduction for costs allowed in producing self-employment income. See Section 152.41, Allowable Costs of Producing Self-Employment Income.
Profit - The amount that remains after subtracting allowable costs of doing business from the total gross receipts.
Self-Employment – When a person is employed by his or her own business, trade, or profession, rather than by an employer.
Self-Employment Income - The profit from self-employment.
Total Gross Receipts - The gross amount of money received from self-employment before any deductions are given for the allowable costs of producing the self-employment income.
Total Monthly Profit – The monthly income arrived at by dividing profit by the number of months it is supposed to cover.
Reissued September 21, 2012, replacing January 31, 2012; reviewed March 1, 2018