MGEMS TAX PROS - Business Deductions

Name *

First Name Last Name

Email *

example@example.com

Taxpayer Spouse


A. Product/service
C. Business Name

	PART 1 - INCOME
1. Gross receipts/sales
2. Returns/allowances
3. Gross sales less Returns & Allowances

	PART 3 - COST OF GOODS SOLD/OPERATIONS
35. Beginning Inventory
36. Purchases
37. Cost of Labor
38. Materials/supplies
40. Cost of goods sold subtotal
41. Ending Inventory
4. Cost of goods sold/operations
5. Gross Profit
6. Other Income
7. Gross Income

	PART 2 - EXPENSES
8. Advertising
9. Car Exp (SEE BOX)
10. Commissions
11. Contract Labor
13. Depreciation
Section 179 Exp
14. Employee Benefits
15. Insurance
16. Interest
16a. Mortgage
16b. Other
17. Legal/Profession
18. Office expense
19. Pension plans
20a. Machinery/equip
20b. Business Property
21. Repair and maintenance
22. Supplies
23. Taxes & Licenses
24a. Travel
24b. Total meals/ent (only 50% deductible)
25. Utilities
26. Wages
27. Other Expenses
28. Total Expenses
31. Net profit or (loss)

CAR EXPENSE

	Miles	Actual $	Use Actual
T
B

FOR NEW ASSETS ONLY

SEP $ KEOUGH $ SELF-EMP HEALTH INS $

I ACKNOWLEDGE THAT I HAVE PROVIDED THE TAX PREPARER ALL INCOME & EXPENSE #'S AND HE HAS VERIFIED THEM

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Schedule C: Profit/Loss Business Deductions