Player FM 앱으로 오프라인으로 전환하세요!
How to Report Profit and Loss on Schedule C
Manage episode 357231760 series 3297282
As a sole proprietor, you are responsible for reporting all business income and expenses on Schedule C (Form 1040 or 1040-SR), Profit or Loss From Business. This includes income from sales, commissions, and fees; cost of goods sold; expenses for rent, utilities, interest, taxes, and supplies; and any other business expenses.
If your business is a partnership or corporation, you will need to file a separate return for the business. However, if you are the sole proprietor of an unincorporated business, you report your business income and expenses on Schedule C.
Read also: Filing Tax Form 2441
161 에피소드
How to Report Profit and Loss on Schedule C
Reconcile Books - Sage, QuickBooks, XERO Any Account Books Reconciliation
Manage episode 357231760 series 3297282
As a sole proprietor, you are responsible for reporting all business income and expenses on Schedule C (Form 1040 or 1040-SR), Profit or Loss From Business. This includes income from sales, commissions, and fees; cost of goods sold; expenses for rent, utilities, interest, taxes, and supplies; and any other business expenses.
If your business is a partnership or corporation, you will need to file a separate return for the business. However, if you are the sole proprietor of an unincorporated business, you report your business income and expenses on Schedule C.
Read also: Filing Tax Form 2441
161 에피소드
모든 에피소드
×플레이어 FM에 오신것을 환영합니다!
플레이어 FM은 웹에서 고품질 팟캐스트를 검색하여 지금 바로 즐길 수 있도록 합니다. 최고의 팟캐스트 앱이며 Android, iPhone 및 웹에서도 작동합니다. 장치 간 구독 동기화를 위해 가입하세요.