View Single Post
Old 01-08-2013, 12:20 PM
ToddH's Avatar
ToddH ToddH is offline
LawnSite Silver Member
Join Date: Aug 2012
Location: Grand Prairie, Texas
Posts: 2,177
Originally Posted by Darryl G View Post
My business income and expenses all go on Schedule C of my 1040. I don't know how someone could possibly complete Schedule C with only total gross income and expenses. I know not everyone uses Schedule C, but I would imagine that a sole proprietor such as Yardguy would. My business is actually set up as an LLC with myself and wife as partnerrs but for tax purposes a sole proprietorship. I keep all of my receipts filed alphabetically by vendor name; I have a seperate manilla folder for each vendor for each year and have them filed chronologically by date within each folder.

Here's Schedule C:
If you live in a common law state you can set up as a sole proprietor or as the form says LLC Disregarded entity.

I have quick books accounts mapped the various parts of the schedule C and import that into Turbo Tax.

It is not perfect but it does give me a big head start on filing those forms.
By Todd Hancock

Google Plus

Google Reviews
Reply With Quote
Page generated in 0.04022 seconds with 8 queries