Schedule C-EZ (Form 1040), Profit from Business (Sole Proprietorship)April 14, 2006
If you are the sole owner of a business or operate as an independent contractor, you will need to file a Schedule C to report income or loss from your business activities. The IRS does provide a simplified version of Schedule C, known as Schedule C-EZ, that can be used by some sole proprietors, primarily those who work as independent contractors for one or more larger businesses. If you have $400 or more of business income over and above your expenses, you need to file a Schedule C or C-EZ, and a Schedule SE to pay self-employment tax, even if you would not otherwise have enough income to be required to file a tax return. File Description: Download: More information: |