Re: Filing taxes with "Schedule C"
It's a sheet used to report business income when you're operating as a sole proprietorship. It's basically an income statement. It's then carried over to the front of your 1040 into your Gross Income.
The best way to use it effectively is to make sure you track all of your expenses meticulously. Keep receipts. Keep a separate account for business transactions. And if you're making over $600 per quarter make sure you're filing quarterlies.
|