BUSINESS INCOME & EXPENSES WORKSHEET
Name: ______________________________________ Tax Year __________________
page 1 of 1
GROSS RECEIPTS AND SALES (Total income for this tax year) .................................................................
$
RETURNS & ALLOWANCES (Refunds to customers) ..................................................................................
$
BEGINNING INVENTORY (if any) (Always 0 in first year of business) .........................................................
$
PURCHASES of items to resell as they are ...................................................................................................
$
PERSONAL USE ITEMS ...............................................................................................................................
$
Cost of CONTRACT LABOR (Not Employee Wages) ....................................................................................
$
Cost of MATERIALS that went into your finished product ..............................................................................
$
ENDING INVENTORY ....................................................................................................................................
$
If this business is a Corporation or Partnership, DO NOT USE THIS SECTION.
Use the Worksheet for those types of businesses.
BUSINESS EXPENSES
Only enter expenses into 1 category, do not double-enter. If unsure how to classify, place in “Other Expenses” with description
ADVERTISING ................................................................................................................................................
$
BAD DEBTS (Accrual only) .............................................................................................................................
$
COMMISSIONS (PAID BY YOU) ....................................................................................................................
$
MEDICAL REIMBURSEMENT PLAN ................................................................................