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.

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Comments


Written by tiroberts
794 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



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