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    Business Income Expense Worksheet

    Uploaded by

    hoanganh4me
    This worksheet is used to track business income and expenses. It collects information about revenue, cost of goods sold, operating expenses like labor, materials, utilities, and selling/administrative costs. The document also requests details on vehicle and home office expenses to properly calculate deductible costs for a sole proprietorship, partnership, corporation, or non-profit entity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd

    Business Income Expense Worksheet

    Uploaded by

    hoanganh4me
    167 views1 page
    This worksheet is used to track business income and expenses. It collects information about revenue, cost of goods sold, operating expenses like labor, materials, utilities, and selling/administrative costs. The document also requests details on vehicle and home office expenses to properly calculate deductible costs for a sole proprietorship, partnership, corporation, or non-profit entity.

    Copyright

    © Attribution Non-Commercial (BY-NC)

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    This worksheet is used to track business income and expenses. It collects information about revenue, cost of goods sold, operating expenses like labor, materials, utilities, and selling/administrative costs. The document also requests details on vehicle and home office expenses to properly calculate deductible costs for a sole proprietorship, partnership, corporation, or non-profit entity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    167 views1 page

    Business Income Expense Worksheet

    Uploaded by

    hoanganh4me
    This worksheet is used to track business income and expenses. It collects information about revenue, cost of goods sold, operating expenses like labor, materials, utilities, and selling/administrative costs. The document also requests details on vehicle and home office expenses to properly calculate deductible costs for a sole proprietorship, partnership, corporation, or non-profit entity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    BUSINESS INCOME & EXPENSE WORKSHEET

    Name of business:

    Form IE-01 Entity type & method: (circle one)


    ( Sole Proprietorship, Partnership, Corporation, Religious, Not-for-Profit ) Cash basis? Yes / No

    Year ending/ Period ending (circle one): Batch control #

    Revenue:
    Gross receipts or sales - Sales return or allowances (1) = Total Revenue $ $ $

    Cost of Inventory Sold:


    Inventory at beginning of the (year / period) + Cost of merchandise Purchased =Total Inventory available for sale (d+e) - Ending Inventory for (year / period) (2) = Cost of Inventory Sold $ $ $ $ $

    Labor, Materials & Contractors:


    Cost of labor + Materials and supplies (not inventory) + Contractors + Other direct (3) = Total Labor, Materials & Contractors (4) Cost of Sales (line 2 + line 3) $ $ $ $ $ $
    Business use of automobile
    Total miles Business miles Commute miles Personal miles Percentage used for business Gas, Repairs & Mtnce. Automobile Insurance Tolls & Parking Expense $ $ $ % $ $ $ Y / N % Vehicle #1 Vehicle #2

    Selling, General & Admin. Expenses


    Advertising + Bank Charge $ $ + Car and Truck (not tolls, not parking, not Insurance) $ + Commissions + Dues and Subscriptions + Employee Benefit Programs + Insurance (not health) - Business Liab. + Insurance - Automobile + Insurance - Health + Interest (not home-office mortgage) + Legal and Accounting + Meals and Entertainment + Office, & Office Supplies + Rent or lease: Machinery/Equipment + Rent or lease: Building $ $ $ $ $ $ $ $ $ $ $ $

    Do you have written evidence to support your business use claim?

    Home Office Expense


    Sq. ft. of office space in home Total sq. ft. of home Homeowners Insurance Internet Service Provider Business Long Dist. Telephone Mortgage Interest or Rent Utilities: Oil, Sewer, Electric Repairs and Maintenance Real Estate Tax Other: __________________ Other: __________________ Other: __________________ Adjusted Basis of Home Home Improvements this Yr Date first started using home for business $ $ $ $ $ $ $ $ $ $ $ $

    Total allocation percentage _____ %

    notes, or specific allocation

    + Repairs and Mtnce. (not car or truck., not home) $ + Taxes and Licenses + Telephone (not home-office telephone) + Tolls and Parking + Trade Shows, and Promotional + Travel (overnight - lodging, and transportation) + Utilities: (not home-office utilities) + Wages & Salaries + + + + (5) = Total Selling, Gen. & Admin. Expenses (6) Profit before depreciation, home office, & taxes = (line 1 - line 4 - line 5)
    Fixed Assets: Equipment, Furniture, Automobile - Purchases: Description Date purchased

    $ $ $ $ $ $ $ $ $ $ $

    $ $
    Did you trade in or retire Was this financed? If yes, any fixed assets Y / N amount financed

    Cost

    / / / / /

    $ $ $

    $ $ $ __________________ Date

    X________________________________________________________________ Presented by: Authorized signature and name

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