Self Employed Schedule C Checklist
Collect this information during the year to help complete your Schedule C accurately.
Download this checklist as a PDF.
Self Employed Income
Gross Income
List of bank deposits
All 1099s
Other income (interest etc.)
Adjustable Figures Needed
Beginning inventory
Ending inventory
Bad Debts
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 Expense
◦ Total square feet of home
◦ Total square feet of office
◦ Mortgage interest
◦ Real estate taxes
◦ Home Utilities
◦ Home repairs
◦ Home insurance
◦ Repairs/Maintenance Done in Year ◦ Month/Year Home First Used for Bus.
◦ Your Investment in Home
◦ Purchase price + improvements
◦ Daycare Use
◦ Total Hours used for Daycare
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.
Self Employed Expenses
Advertising
Commissions paid
Contract Labor
Business loan interest
Cost of good sold
Health insurance premiums
◦ Special rules apply. (Deduct on the front of Form 1040.)
Insurance (other than health)
◦ Business Liability
◦ Workman's Comp
Legal and Professional Fees
◦ Accounting
Meals & Entertainment (usually only 50% deductible)
Education & Seminars (related to current business, not new career)
Merchant fees for your credit card sales
Bank service charges
Office Expenses
◦ Materials & Supplies
◾ Postage and shipping
◾ Customer gifts
◾ Software purchases
◾ Software subscriptions, such as security software
◦ Dues & subscriptions
◦ Internet service
◦ Web site hosting, design, and domain registration
◦ Cell Phones
◦ Telephone
◦ Long distance phone charges
◦ Phone cards for business calls
◦ Books, newspapers, magazines for business purposes
◦ Answering services
Rent/Lease Business Space / Property
Business Property Taxes
Rent/Lease Business Equipment
Rent or lease of storage facilities
Repairs and Maintenance of equipment or business space
Shop supplies
Taxes & Licenses
Travel expenses
◦ Parking and tolls for business travel
◦ Hotel, air and bus fares, taxis
Utilities
Bank charges
Equipment purchases - These can be generally depreciated or expensed with a Section 179 tax deduction
Association and membership fees