Business Income & Expense Worksheet
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1
2BUSINESS INCOME & EXPENSE WORKSHEET
YEAR
______________
NAME_______________________________________________________________________
Federal ID # ________________________
NAME OF BUSINESS ______________________________________________________________________________________________
ADDRESS OF BUSINESS___________________________________________________________________________________________
❏
❏
❏
BUSINESS ACTIVITY ( Check all that apply ):
sales
manufacturing
service
PRODUCT SOLD
SERVICE PERFORMED ________________________________________________________________________
OR
❏
How many months was this business in operation during the year?
12 Months
From _______
To_________
OR
❏
How many hours during the year did you and/or your spouse devote to this business?
# of hours ______
FULL TIME
OR
❏
❏
Is any portion of your investment in this business not subject to payback by you?
YES
NO
BUSINESS INCOME
1099 – MISC. Bring in ALL 1099s received. Include
Include all 1099 income
GROSS SALES/RECEIPTS
Non-Employee Amount in Gross Sales.
for services performed
If not included in above
Do your records agree
❏
YES
SALES TAX COLLECTED
with the amount reported?
❏
NO
Amount included in Gross Sales
RETURNS / REFUNDS
that was refunded to your client
Did you receive $10,000.00 in actual cash from any
individual at any one time— or in accumulated
OTHER INCOME
Directly related to your business
amounts— during this tax year?
Sales of Equipment, Machinery, Land, Buildings Held for Business Use
Kind of Property
Date Acquired
Date Sold
Gross Sales Price
Expenses of Sale
Original Cost
BUSINESS EXPENSES (cost of goods sold)
Shipping cost to receive product or
PURCHASE OF PRODUCT
FREIGHT-IN
materials, if not included in purchases
& SUPPLIES FOR RESALE
OTHER COSTS
Actual cost of items in purchases
PERSONAL USE
used by you or your family
INVENTORY AT END OF YEAR
How did you arrive at inventory value?
◊ COST OF
LABOR
❏
Actual Cost
Other (explain)
PURCHASE OF
__________________________________________________________________________________________
MATERIAL FOR JOBS
(construction or installation type)
CAR
TRUCK EXPENSES
OFFICE
HOME
and
in
VEHICLE 1
VEHICLE 2
Date Acquired Home
Year and Make of Vehicle
Total Cost
Date Purchased (month, date and year)◊
Cost Of Land
Reading (December 31)
Cost Of Improvements
Ending Odometer
–
–
Reading (January 1)
Sq. Footage Of Home
Beginning Odometer
Total Miles Driven (
)
Sq. Footage Of Office Area
End Odo – Begin Odo
Total Business Miles (do you have another vehicle?)
Rent Paid (If You Rent)
Total Commuting Miles
Interest
Parking Fees and Tolls
Taxes
License Plates
Utilities/Garbage
Interest
Insurance
Repairs/Maintenance
Continue below if you take actual expense (must use actual expenses if you lease)
Hours Used Per Week
Gas, oil, lube, repairs, tires, batteries, insurance, supplies, wash, wax, etc.
Hours Worked Per Week
Lease Costs
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