More than 90% of the US population have health insurance policies because of employment benefits. But what about those self-employed, like you, you ask? Well, they, too, can get a health insurance policy and coverage by benefiting from the Affordable Care Act and applying in the Health Insurance Marketplace. However, before you head on to fill out the application, you must first prepare all legal forms and documents you need. And one of the requirements includes a self-employment ledger that states your income and expenses as a self-employed individual.
10+ Self-Employment Ledger Samples and Templates in PDF
1. Self-Employment Ledger Template
2. Self-Employment Ledger Form
3. Self-Employment Income Ledger
4. Sample Self-Employment Ledger
5. Self-Employment Ledger Form Sample
6. Self-Employment-Ledger in PDF Template
7. Enrollment Self-Employment Ledger
8. Formal Self Employment Ledger
9. Self-Employment Records
10. Self-Employment Income Worksheet
How to Make a Self-Employment Ledger
Reporting your self-employment income and expenses to the Health Insurance Marketplace can be beneficial for you. Specifically, it allows the Marketplace to provide some insurance policy options and offers that you can acquire, while still saving on your finances since you’re a freelance or self-employed worker. That’s why you must keep in mind the following tips as you begin to make your self-employment ledger for your Marketplace application:
1. Utilize Tables and Spreadsheets
What’s the best way to present your detailed income and expenses? Well, by using rows and columns, as well as spreadsheet cells, to make a table for it. However, you must ensure that you are putting enough numbers of rows and columns for each piece of information to disclose in your ledger. Some of the details to include would be the date, amount, and remarks. This applies to both your income and expenses.
2. Add Your Personal Information
When you go search online some examples of self-employment ledgers, you’re going to see that most contain only a table for the financial details of the user. But, there’s one element that you must include, and that’s your personal information. What for? So that the Marketplace will be able to categorize and archive your documents as yours and will not mismatch or miss it as someone else’s submission, especially when they download and print your ledger. Your full legal name, company or brand name that you are using, address, and contact details can be some of the pieces of information you can state above the table.
3. “Honesty is the best policy.”
You are applying for the Health Insurance Marketplace because you need and want an affordable health insurance policy. But, how can the Marketplace better cater to your preferences and know your limitations if you won’t provide accurate data and information? Well, they can’t! So, make sure that you are open and honest about what you are declaring. Some even include the names of their customers and clients so that the Marketplace can verify the income source and claims. You can do that, too, unless you signed a privacy and confidentiality agreement with your client thereof.
What is the purpose of a self-employment ledger?
Self-employment ledgers have a similar role to an affidavit form but in the financial and employment area. In specific, the ledger will serve as the proof of an individual that he is self-employed and that he is supporting himself only without signing an employment contract with another party. More often, the ledger is used by the state in the Health Insurance Marketplace. On the one hand, it’s also useful for other organizations that are into supporting self-employed individuals.
Is there a format to follow to make my self-employment ledger valid?
No, there is not a format that the Health Insurance Marketplace mandates. However, you must ensure that your ledger will look professional and must be well-organized. As much as possible, limit yourself to using only a maximum of three colors if you want to add some designs into your ledger. Also, keep the font styles and texts simple and readable.
What should I do if my income and expense estimates become higher or lower throughout the year?
Accuracy is vital in any legal form, financial form, and, most importantly, in documents that you submit to the government. So if ever there are changes in your income and expenses, then you must make another self-employment ledger and submit it right away to the Marketplace. This prompts the agency to update your insurance application immediately so they can also provide you with updated listings and options.
How can I best make estimations of my income and expenses for my self-employment ledger?
Estimations are just that, estimations, and it means that it’s the rough calculation of something, in this case, of your income and expenses. The best way to make these estimations is to make a list of the amounts based on what you can remember from the past months. You can simply list every client you’ve had, their payments, and then proceed to sum it all up for your income estimates. And with regards to your expenses, just list your basic necessities and miscellaneous expenditure, including travel expenses. Then add them up, and you now have your expense estimates!
Now that you know the purpose of a self-employment ledger, along with some tips, it’s time for you to make one for your application and employment verification. So, go ahead and choose from our varying sample forms and templates above. We guarantee you that you won’t be paying anything when you hit the download button, for it’s all free and editable, too! Also, it’s printer-friendly and compatible with all sorts of devices and gadgets that you have right now. So, grab our templates now!
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