If you are a sole proprietor, any earnings you make or expenses you incur as a business owner are included as part of your individual annual tax return (Form 1040). To calculate exactly what to report on Form 1040, you must itemize all operational income and expenses on one of two forms – Schedule C or Schedule C-EZ.

But which one should you use and how do you file? Here’s what you need to know.

Sponsored Content


Comments


Written by tiroberts
631 days ago

Thanks so much for this piece. Truly needed it and it's right on time. I'm in the process of preparing my taxes (yes, I'm a last minute preparer) and I was confused as to which form to use so this is def helpful to me.

Ti



Log in to comment or register here.

Three Key Voluntary Policies for Women

Today 4 in 10 women are the sole or primary breadwinners for their families,¹ and they do more than twice the amount …
Subscribe

Devan Perine @devanmarie Is Community Manager at EnMast

Businesses owners are in need of advice. But sometimes they haven't got the budget for the experience they require. … More
Editor's Picks

Have you tried BizSugar's new video posting feature?
Did you know you can now post video on BizSugar?
It's time to up your game with video on BizSugar!
Post your small business video to BizSugar today!