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Small Business Income
  • Gross receipts from sales or services

  • Sales records (for accrual based taxpayers)

  • Returns and allowances

  • Business checking/savings account interest (1099-INT or statement)

  • Other income

Cost of Goods Sold (if applicable)
  • Inventory

  • Beginning inventory total dollar amount

  • Inventory purchases

  • Ending inventory total dollar amount

  • Items removed for personal purposes

  • Materials & Supplies

  • Advertising

  • Phones (landline, fax or cell phones related to business)

  • Computer & internet expenses

  • Transportation and travel expenses

  • Local transportation

  • Business trip (mileage) log

  • Contemporaneous log or receipts for public transportation, parking, and tolls

  • Travel away from home

  • Airfare or mileage/actual expense if drove

  • Hotel

  • Meals, tips

  • Taxi, tips

  • Internet connection (hotel, Internet café etc.)

  • Other

  • Commissions paid to subcontractors

  • File Form 1099-MISC and 1096 as necessary

  • Depreciation

  • Cost and first date of business use of assets

  • Records relating to personal use of assets

  • Sales price and disposition date of any assets sold

  • Business insurance

  • Casualty loss insurance

  • Errors and omissions

  • Other

  • Interest expense

  • Mortgage interest on building owned by business

  • Business loan interest

  • Investment expense and interest

  • Professional fees

  • Lawyers, accountants, and consultants

  • Office supplies

  • Pens, paper, staples, and other consumables

  • Rent expense lease with landlord

  • Business-use vehicle lease expense

  • Office-in-home

  • Square footage of office space

  • Total square footage of home

  • Hours of use, if operating an in home daycare

  • Mortgage interest or rent paid

  • Homeowner's or renters' insurance

  • Utilities

  • Cost of home, separate improvements and first date of business use

  • Wages paid to employees

  • Form W-2 and W-3

  • Federal and state payroll returns (Form 940, Form 941, etc.)

  • Employee benefit expenses [This needs to be left-aligned with "Wages paid to employees"]

  • Contractors

  • Form 1099-MISc

  • Form 1096

  • Repairs, maintenance of office facility, etc

  • Estimated tax payments made

  • Other business related expenses

  • Health insurance [This needs to be left-aligned with "Other expenses"]

  • Premiums paid to cover the sole-proprietor and family

  • Premiums paid on behalf of partners and S corporation shareholders

  • Information on spouse's employer provided insurance

Business Graphs

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