Sole Proprietorship Tax Organizer

Sole Proprietor Business Income
Gross receipts or sales (if you received Forms 1099-NEC, list name of payer and amount separately from gross receipts or sales)
Form 1099-K
Form 1099-K
Form 1099-K
Total of all Forms 1099-NEC and 1099-K received

Other income (not included in gross receipts above)
Total of all Forms 1099-NEC and 1099-K received
Returns and allowances
Other income (not included in gross receipts above)

Sole Proprietor Cost of Goods Sold

for manufacturers, wholesalers, and businesses that make, buy, or sell goods
Inventory at the beginning of the year
Purchases
Cost of labor
Materials and supplies
Inventory at the end of the year

Sole Proprietor Business Expenses
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Meals - business
Office supplies
Start-up costs (first year of business)
Pension and profit sharing plans
Rent or lease – car, machinery, equipment
Rent or lease – other business property
Repairs and maintenance
Supplies (not included in inventory cost)
Taxes – payroll*
Taxes – property
Taxes – sales
Taxes – state
Interest Paid

Travel Expenses
- Meals. You can deduct the cost of meals while traveling away from home on business. You can use the actual cost of your meals or the standard meal allowance per diem, which can vary by location.
- Travel/Lodging. You can deduct the ordinary and necessary ex- penses of traveling away from your home for business purposes. Included expenses are transportation, airfare, taxi, lodging, etc.

Travel expenses

	City visited (for per diem)	# of days in city	City visited (for per diem)	# of days in city

Airfare

	-	Other travel expenses (describe below)	-
Bus, train, taxi
Entertainment
Lodging
Parking and tolls
Meals (actual receipts)

Equipment Purchases – Enter the following information for depreciable assets purchased that have a useful life greater than one year

Depreciation. Depreciation is the annual deduction that allows you to recover the cost or other basis of your business property over a certain number of years. Depreciation starts when you first use the property in your business. It ends when you either take the property out of service, deduct all your depreciable cost or basis, or no longer use the property in your business. The IRS has outlined a useful life (a set number of years) for most assets.

	Asset	Date purchased	Cost	Date placed in service	New or used?

Equipment Sold or Disposed of During Year

Disposition of Property. A disposition of property occurs when you sell property for cash or other property, you exchange property for other property, you transfer property to satisfy a debt, you abandon property, your bank forecloses or repossesses your property, or your property is damaged, destroyed, or stolen and you receive property or money in payment.

	Asset	Date out of service	Date sold	Selling price/FMV	Trade-in?

Business Use of the Home
Area of home must be exclusively used for business except for storage or day care. Note: Managing rental activities or investments does not qualify for business use of the home.
All Taxpayers
A Business use area (square footage)
Total area of home (square footage)
For Day Care Only
Hours used for day car
Enter below only the expenses paid during the period the home was used for business. Direct expenses benefit only the business use portion of the home. This includes painting or repairs exclusively for the business area. Indirect expenses are for keeping up and running the entire home, such as mortgage interest and property taxes. If you bought or sold your home during 2017, copy this worksheet and fill out one for each home.

	Direct	Indirect
Mortgage Interest
Property Taxes
Insurance
Rent
Repairs and maintenance
Utilities
other
other

Depreciation of the Home
Lower of cost or fair market value of home
Value of land
Casualty losses?

YesNo
Casualty Loses?

YesNo
Should be Empty:

Sole Proprietorship Tax Organizer

Sole Proprietor Specific Questions

Sole Proprietor Business Income

Sole Proprietor Cost of Goods Sold

Sole Proprietor Business Expenses

Heading

Car Expenses

Mileage

Actual Expenses

Travel Expenses

Equipment Sold or Disposed of During Year

Business Use of the Home

All Taxpayers

For Day Care Only

Depreciation of the Home