For additional help with Medical Assistance Applications, please call the Health First Colorado Member Contact Center at 1-800-221-3943.For additional help with requests for Supplemental Nutrition Assistance Program (SNAP) or cash assistance, please call 1-800-536-5298.
For additional help with Child Care Assistance Program (CCAP) applications, contact your local county office.
For CCCAP purposes, Owners of LLC’S and S-Corporations are considered employees of the corporation, because they have limited personal liability for the debts and actions of the business.
The information that you give us on this page will help us better understand your net income if you are self-employed. By self-employed, we mean that the money you earn is from your own business. For example, you may own your own construction business, a salon, a farm, provide house cleaning services or day care in your home. AM I SELF-EMPLOYED? According to the IRS1, you are self-employed if you carry on a trade or business as a sole proprietor or an independent contractor. 1[Source: Internal Revenue Service, Publication 334 (2013), http://www.irs.gov/pub/irs-pdf/p334.pdf]
The information that you give us on this page will help us better understand your net income if you are self-employed. By self-employed, we mean that the money you earn is from your own business. For example, you may own your own construction business, a salon, a farm, provide house cleaning services or day care in your home.
AM I SELF-EMPLOYED? According to the IRS1, you are self-employed if you carry on a trade or business as a sole proprietor or an independent contractor. 1[Source: Internal Revenue Service, Publication 334 (2013), http://www.irs.gov/pub/irs-pdf/p334.pdf]
TRADE OR BUSINESS: A trade or business is generally an activity carried on to make a profit. The facts and circumstances of each situation determine whether or not an activity is a trade or business. It does not need to make a profit to be in a trade or business as long as there is a profit motive. There need to be ongoing efforts to further the interests of the business. People do not have to carry on regular full-time business activities to be self-employed. Having a part-time business in addition to a regular job or business may be self-employment. SOLE PROPRIETOR: Someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic Limited Liability Company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation.
TRADE OR BUSINESS: A trade or business is generally an activity carried on to make a profit. The facts and circumstances of each situation determine whether or not an activity is a trade or business. It does not need to make a profit to be in a trade or business as long as there is a profit motive. There need to be ongoing efforts to further the interests of the business. People do not have to carry on regular full-time business activities to be self-employed. Having a part-time business in addition to a regular job or business may be self-employment.
SOLE PROPRIETOR: Someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic Limited Liability Company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation.
PARTERNERSHIP: Someone who owns a business with one or more partners is in a Partnership. A Partnership can take the form of a General Partnership, a LLC, or an S-Corporation (S-Corp). A General Partnership unlike a LLC or an S-Corp is an unincorporated business. When in a partnership you need to list the total number of partners (including yourself) in the partnership and the percentage of the partnership that belongs to you. Under Net Gross Income of the business you should put in the full amount that the business makes including any portion that your partners will receive. INDEPENDENT CONTRACTOR: People who are in an independent trade, business, or profession in which they offer their services to the general public are generally independent contractors. The earnings of a person who is working as an independent contractor are subject to Self-Employment Tax.
PARTERNERSHIP: Someone who owns a business with one or more partners is in a Partnership. A Partnership can take the form of a General Partnership, a LLC, or an S-Corporation (S-Corp). A General Partnership unlike a LLC or an S-Corp is an unincorporated business. When in a partnership you need to list the total number of partners (including yourself) in the partnership and the percentage of the partnership that belongs to you. Under Net Gross Income of the business you should put in the full amount that the business makes including any portion that your partners will receive.
INDEPENDENT CONTRACTOR: People who are in an independent trade, business, or profession in which they offer their services to the general public are generally independent contractors. The earnings of a person who is working as an independent contractor are subject to Self-Employment Tax.
Type of Self Employment: Tell us more about the type of self-employment you have. Please make a selection from the drop down list that best represents your business. The options available are: Day Care Self-Employment Self-Employment Farming Sale of Livestock/Poultry Sale of Crops
Type of Self Employment: Tell us more about the type of self-employment you have. Please make a selection from the drop down list that best represents your business. The options available are:
Are you the only owner of the Business? Indicate if you are the only owner of this business. If No, you will need to list how many owners and what percentage you own. Indicate whether or not the business is home-based.
Note: If there are multiple owners of the business, and one of the other owners is also on this application: Have the next owner of the business fill in his/her own self-employment page (after you click Next) All income and expense figures should be the same as provided by the first owner Additional owners should list their percentage(s) of ownership in the business PEAK will calculate the percentage of ownership in relation to the income of business for eligibility determination See IRS Publication 587: Business Use of Your Home for more information.
Note: If there are multiple owners of the business, and one of the other owners is also on this application:
For your business to be a corporation, you must have filed Articles of Organization with the Colorado Secretary of State. If you are unsure, please check with the Colorado Secretary of State’s office. Self-Employment Gross Income: Tell us more about Self-Employment Gross Income. This is the amount of money earned before any taxes, deductions, or expenses are taken out.
For your business to be a corporation, you must have filed Articles of Organization with the Colorado Secretary of State. If you are unsure, please check with the Colorado Secretary of State’s office.
Self-Employment Gross Income: Tell us more about Self-Employment Gross Income. This is the amount of money earned before any taxes, deductions, or expenses are taken out.
NOTE: For all self-employment questions, you are asked what your income and expenses are last month. Do not average several months or the whole year. Since Medicaid looks at eligibility monthly, you must report the business income and expenses for last month. Business Rent/Mortgage:Tell us more about the amount paid monthly on business rent or mortgage costs. Enter the amount paid last month for rent or lease office or other space for the business (like a workshop or commercial kitchen). You can also enter the mortgage amount if you own property for the business (but not your home if the business is home-based). Business Labor: Tell us more about your business labor costs. Enter the amount paid last month to employees or contract labor.
NOTE: For all self-employment questions, you are asked what your income and expenses are last month. Do not average several months or the whole year. Since Medicaid looks at eligibility monthly, you must report the business income and expenses for last month.
Business Rent/Mortgage:Tell us more about the amount paid monthly on business rent or mortgage costs. Enter the amount paid last month for rent or lease office or other space for the business (like a workshop or commercial kitchen). You can also enter the mortgage amount if you own property for the business (but not your home if the business is home-based).
Business Labor: Tell us more about your business labor costs. Enter the amount paid last month to employees or contract labor.
Cost of Merchandise: Tell us more about your merchandise costs. Enter the amount you paid last month for the materials and supplies necessary to perform your job duties. Examples include small tools, parts, ingredients or other supplies that pertain to your industry. Business Tax Costs: Enter the amount paid last month for business taxes. Examples include: State and Local Sales Taxes Social Security and Medicare Tax paid to match withholding from employees’ wages Federal Income Tax, including Self-Employment Tax See IRS Publication 334: Tax Guide for Small Businesses and IRS Publication 535: Business Expenses for more information.
Cost of Merchandise: Tell us more about your merchandise costs. Enter the amount you paid last month for the materials and supplies necessary to perform your job duties. Examples include small tools, parts, ingredients or other supplies that pertain to your industry.
Business Tax Costs: Enter the amount paid last month for business taxes. Examples include:
Interest for Business: Enter the amount paid last month for business interest expenses. Examples include interest on a business loan, mortgage, or business credit cards.
Utilities for Business: Enter the amount paid last month for business utilities. This can include heat, lights, power, cell phone, fax or phone line, water, and sewer. Note that you cannot deduct the full amount for telephone if you are home-based. Business Equipment: Enter the amount paid last month for business equipment. This can be leasing or renting equipment, or even payments on equipment that the business is financing.
Utilities for Business: Enter the amount paid last month for business utilities. This can include heat, lights, power, cell phone, fax or phone line, water, and sewer. Note that you cannot deduct the full amount for telephone if you are home-based.
Business Equipment: Enter the amount paid last month for business equipment. This can be leasing or renting equipment, or even payments on equipment that the business is financing.
Other Expenses: Retirement Plans - Retirement plans are savings plans that offer you tax advantages to set aside money for your own, and your employees' retirement. Taxes - You can deduct various federal, state, local, and foreign taxes directly attributable to your trade or business as business expenses. Insurance - Generally, you can deduct the ordinary and necessary cost of insurance as a business expense, if it is for your trade, business, or profession. If you pay these expenses annually or quarterly, you can divide that out and report as a monthly expense.
Other Expenses: