The Schedule C form is your business’s profit and loss form, highlighting your proceeds and losses.Īre LLCs (Limited Liability Companies) also required to file a Schedule C? By default, you’re required to do so if the only member of your LLC is yourself. By the term “self-employed,” you can either be a sole proprietor, independent contractor, freelancer, or another professional.Īs an independent contractor, it is helpful to use an independent contractor spreadsheet, especially when filing your Form 1099, because it involves filling out your Schedule C (1040). Tracking your expenses and potential tax deductions is one of the best practices you can do as a self-employed individual. How Do Independent Contractors Keep Track of Income and Expenses? How Do I Report Independent Contractor Expenses? Common Independent Contractor Tax Deductions You Shouldn’t Pass Up.Exploring Our Free Independent Contractor Expenses Spreadsheet.What Should a Good Taxes Spreadsheet Template Have?.
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