Business Income And Expenses Worksheet
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1Du'JH Associates, P.A., 4820 Hall Rd, Orlando, FL 32817, Tel:407-677-9462
Scheduel C worksheet.xls
2012 Business Income and Expenses worksheet
(sole proprietorship/independent contract/single member LLC
If you operate a small business as a sole proprietor, list your income and expenses in this worksheet. If you have more than
one business, use separate worksheet for each business activity. List only ordinary and necessary expenses to the business.
All business expense deduction must be based on receipts and records.Do not list personal expense in the worksheet.
Client Name:
Client ID:
Tax Year or calendar year ended:
Business Information
Business Name (DBA)
Employer ID (EIN)
Business Address
State tax ID (if any)
Business Description:
business code
Date Started
List the states in which biz was conducted
Date ended:
Business Form
sole proprietorship
single member LLC
independent contractor
ownership(name, tax ID)
Did you materially participated in this biz?
YES
NO
Was all of your investment in this activity at risk?
YES
NO
(describe)
Accounting method:
cash
accrual
other (specify)
inventory valuation method
cost
LCM
other (specify)
Did you make payments that would require you to file a Form 1099?
Yes
No
If yes, did you or will you file all required Forms 1099?
Yes
No
Part I –Income
Amount
Gross receipt from sales before sales tax
Income reported on 1099s
Gross receipt from sales after sales tax
Interest
Discounts taken, Rebates or Return allowances
(
)
Bad debts deducted in prior years
Income for service
Other income (List type and amount)
Part II – Cost of Goods Sold (inventory)
Amount
Inventory at beginning of year
Add:
Purchases for resale
Freight-In
cost of items withdrawn for personal use
(
)
Cost of storage
Direct labor cost (Not payment to yourself)
Materials and supplies
Overhead expense for management
Other costs (Specify)
Inventory at end of year
Part III –business Expenses
Amount
Advertising cost (business card, ads, web cost)
professional fees and dues
Amortization/Depreciation (depreciation schedule)
license fee
Auto Expense (auto expense worksheet)
association dues
bad debt from sales or servicess
union dues
Bank Service Charges
Subscriptions & books
business gift expense
property taxes for business property
Business License & permit fees
Rental and lease payment (other than vehicles)
Business tax paid
building or office
Business insurance (other than health)
machinery and equipment
cash over and short
transportation (local)
Commissions and fees(1099MISC)
Travel and lodging (overnight travel worksheet)
Contract labor (1099MISC)
transportation
home office expenses (home office worksheet)
hotel
Insurance:Worker's Compensation
meals
Insurance:General Liability Insurance
continuing education expense
Insurance:Professional Liability Insurance
tuition & lab fees
books & supplies
Insurance:Life Insurance (if you are not beneficiary)
Insurance:Disability Insurance
transpotation & travel
Interest Expense (mortgage, biz creditcard)
Utilities (Do not include home office)
Maintenance and Repairs
water
Meals and Entertainment (Local)
electricity
Deductible with 50% limit
secuirty system
deductible with 100% limit
Phone & internet (business portion only)
civic club dues
others (please specify)
social or entertainment club due
Office supplies and expenses
If you have employees
office supplies
Wages paid to employees (Form W-2/W-3)
postage
Payroll taxes for employees (payroll tax returns)
software
Unemployment tax for employees
penalty and fines
Health insurance (employees only)
Professional Fees-(legal & other)
Employee benefit programs (other than wages)
Legal
Pension and Profit Sharing plans (employee part)
Tax preparation
Cost to set up pension plans
Supplies (other than inventory)
(Provide certificate and associated wages for WOC if any)
List equipment & assets acquired and/or placed in service during the year
purchase price or
Date acquired
Date placed in service
%
section 179
Description
adjusted basis
(MM/DD/YYYY)
(MM/DD/YYYY)
business use
expense
1
2
3
qualified leasehold
4
improvement (if any)
List assets disposed/sold or converted to personal use during the year
date acquired
cost
Date sold
selling or
selling
accumulated
description
(MM/DD/YYYY)
basis
(MM/DD/YYYY)
other price
expense
depreciation
1
2
3
4
Signature__________________
Date______________________
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