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  • Self Employment Checklist

    This is not an inclusive list but this checklist is an example of the many items that are deductible for self employed sole proprietors.
  •  Self Employment Income

    • Gross Income
    • List of bank deposits
    • All 1099s
    • Other income (interest etc.)

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    Misc Info Needed

    • Beginning inventory
    • Ending inventory
    • Bad Debts - Unpaid accounts (if income was claimed in previous year)
    • Auto Expenses / business mileage
      • Auto insurance
      • Interest of auto loan
      • Repairs & maintenance
      • Total miles driven
      • Business miles driven
      • Total gas purchases
      • Date car purchased
      • Model and make of auto
    • Salaries & Wages
      • Total gross wages paid
      • Commissions paid
      • Company paid FICA
      • Federal unemployment paid
      • State unemployment paid
      • Worker’s compensation paid
      • Copies of 1099s to contractors
    • Home Office/Business Expenses for the year
      • Total square feet of home
      • Total square feet of office
      • Mortgage interest
      • Real estate taxes paid 
      • Home Utilities (gas, electric, garbage, water)
      • Pest Control Service/Lawn Service
      • Cell Phone
      • Home repairs
      • Home insurance
      • Repairs/Maintenance Done in Year
      • Month/Year Home First Used for Business
      • Purchase price + improvements (without land price)
    • List of assets (cost & date acquired)
    • Cost of inventory items that sold (do not include unsold inventory)
    • Donated inventory - special rules apply
    • Depreciation on the cost of furniture and equipment that you owned prior to starting your business - desks, computers, file cabinets, etc.

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    Self Employed Deductible Expenses

    • Advertising
    • Commissions Paid
    • Contract Labor Paid (copies of 1099s filed)
    • Business loan interest
    • Cost of goods sold (purchases, not inventory)
    • Health insurance premiums paid
    • Insurance (other than health)
      • Business Liability
      • any other insurance
    • Legal and Professional Fees (accounting fees)
    • Meals (only 50% deductible)
    • Meals bought for employee party - 100% deductible
    • Education and Seminars (related to current business - not new career)
    • Merchant fees for credit card sales
    • Bank service charges
    • Office Expenses
      • Supplies 
        • Office supplies
        • postage 
        • shipping
        • customer gifts (limited to $25 per client)
        • software purchases
        • software subscriptions (security software, etc)
        • cleaning supplies
      • Dues and subscriptions (pertaining to current business)
      • Internet service
      • Website hosting, design, domain registration
      • yearly LLC renewal fee
      • Cell phones
      • Telephone
      • Long distance charges
      • Phone cards for business calls
      • Books, newspapers, magazines for business purposes
      • Answering services
    • Rent/Lease Space / Property
    • Business Property Taxes
    • Rent/Lease of Business Equipment (tools, dumpsters)
    • Rent/Lease of storage facilities
    • Repairs and maintenance
    • Shop supplies
    • Taxes and Licenses
    • Travel Expenses
      • Parking and tolls for business travel
      • hotel, air and bus fares, taxi's, Lyft, Uber
    • Utilities
    • Equipment Purchases (cost and date purchased)
    • Association fees
  • Should be Empty: