Schedule C
- The Purpose of Schedule C
- Schedule C Expenses
- Deducting a Net Loss Reported on Schedule C
- Preparing Schedule C
- Business Deductions Claimed on Form 1040 Instead of Schedule C
- Closing a Sole Proprietorship
More Tax Topics
- Business Structures
- Start-up Costs
- Depreciation
- Car Expenses
- Home Office Deduction
- Travel Expenses
- Hiring Workers
- Meals and Entertainment
- Retirement
- Top Tax Myths
- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
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Updated for 2011
Expenses Listed on Schedule C
Schedule C Expenses
Expenses on Schedule C start on page 1, Part II, line 8.
- Line 8: Advertising and promotion
- Line 9: Car and truck expenses
- Line 10: Commissions and fees
- Line 11: Contract labor
- Line 12: Depletion
- For certain oil, gas, mineral, and timber properties
- Line 13: Depreciation and section 179 expense deduction
- Line 14: Employee benefit programs
- Line 15: Insurance
- Line 16: Interest
- Mortgage (paid to banks, etc.)
- Other
- Line 17: Legal and professional Services
- Accounting, consulting fees, tax preparation for Schedule C and related schedules, etc.
- Line 18: Office expense
- Bottled water
- Janitorial service
- Other office services
- Line 19: Pension and profit-sharing plans
- Line 20: Rent or lease
- a. For vehicles, machinery, and equipment
- b. Other business property
- Use this line for amount paid for rent or lease of office space in a building.
- Line 21: Repairs and maintenance
- Line 22: Supplies
- Line 23: Taxes and licenses
- Line 24: Travel, meals, and entertainment
- a. Travel
- b. Deductible meals and entertainment (50% deductible)
- Line 25: Utilities
- electricity, water, telephone
- Line 26: Wages
- Line 27: Other expenses.
- Line 30: Home office deduction
- Complete Form 8829 (Form 8829 instructions)
Next:
Expenses Listed on Schedule C: Explanation of Certain Schedule C Expenses
Related Links
- The Purpose of Schedule C
- Who Must File Schedule C?
- More Than One Business
- Schedule C Losses
- Components of Schedule C
- Schedule C-Page 1, Top Section
- Schedule C-Page 1, Part I: Income
- Schedule C-Page 1, Part II: Expenses
- Deducting the Home Office Deduction on Schedule C
- Schedule C-Page 2, Part III: Cost of Goods Sold
- Part IV: Information on Your Vehicle
- Part V: Other Expenses
- Form 1040 Deductions
- Closing Your Sole Proprietorship
- Reopening Your Business in a Later Year
- Closing Your Business When You Have Employees
Copyright © 2008-2012 Larry Villano. All rights reserved.