Schedule C - Business Income

& Expenses

BY Garrett Cole

This course encompasses how the sole proprietor reports income. Sole proprietorship is the most popular business structure. A sole proprietorship is indistinguishable from its owner, and all income earned is reported by the owner. Schedule C is the reporting tool for most sole proprietors. Covered in the course is line-by-line instruction to complete the Schedule C.

At the end of this course, the student will be able to do the following:

  • Identify the differences between accounting periods and accounting methods.

  • Understand the guidelines between an independent contractor and an employee.

  • Explain when to use Schedule C-EZ and when to use Schedule C.

  • Recognize what determines start-up costs.