SCHEDULE C CHECKLIST
Self Employed Income
- Gross Income
- List of bank deposits
- All 1099s
- Other income (interest etc.)
Adjustable Figures Needed
- Beginning inventory
- Ending inventory
- Bad Debts
- Auto Expenses / business mileage
- Auto insurance
- Interest of auto loan
- Repairs & maintenance
- Total miles driven
- Business miles driven
- Total gas purchases
- Date car purchased
- Model and make of auto
- Salaries & Wages
- Total gross wages paid
- Commissions paid
- Company paid FICA
- Federal unemployment paid
- State unemployment paid
- Worker’s compensation paid
- Copies of 1099s to contractors
- Home Office/Business Expense
- Total square feet of home
- Total square feet of office
- Mortgage interest
- Real estate taxes
- Home Utilities
- Home repairs
- Home insurance
- Repairs/Maintenance Done in Year
- Month/Year Home First Used for Bus.
- Your Investment in Home
- Purchase price + improvements
- Daycare Use
- Total Hours used for Daycare
- List of assets (cost & date acquired)
- Cost of inventory items that sold (do not include unsold inventory)
- Donated inventory – special rules apply
- Depreciation on the cost of furniture and equipment that you owned prior to starting your business, desks, computers, file cabinets, etc.
Self Employed Expenses
- Advertising
- Commissions paid
- Contract Labor
- Business loan interest
- Cost of goods sold
- Health insurance premiums
- Special rules apply. (Deduct on the front of Form 1040.)
- Insurance (other than health)
- Business Liability
- Workman’s Comp
- Legal and Professional Fees
- Accounting
- Meals & Entertainment (usually only 50% deductible)
- Education & Seminars (related to current business, not new career)
- Merchant fees for your credit card sales
- Bank service charges
- Office Expenses
- Materials & Supplies
- Postage and shipping
- Customer gifts
- Software purchases
- Software subscriptions, such as security software
- Dues & subscriptions
- Internet service
- Web site hosting, design, and domain registration
- Cell Phones
- Telephone
- Long distance phone charges
- Phone cards for business calls
- Books, newspapers, magazines for business purposes
- Answering services
- Materials & Supplies
- Rent/Lease Business Space / Property
- Business Property Taxes
- Rent/Lease Business Equipment
- Rent or lease of storage facilities
- Repairs and Maintenance of equipment or business space
- Shop supplies
- Taxes & Licenses
- Travel expenses
- Parking and tolls for business travel
- Hotel, air and bus fares, taxis
- Utilities
- Bank charges
- Equipment purchases
- Association and membership fees