Keeping track

[danielle_b4424]

Hi! What should I all be keeping track of through the year other than my income?

[evelynm]

Hello Danielle: 

Self-employed taxpayers report their business income and expenses on Schedule C.

Here is a link with details:   https://turbotax.intuit.com/tax-tips/self-employment-taxes/reporting-self-employment-business-income...

Happy Wednesday.

[carmen_t]

Hello and thank you for your question.  I will answer this question to the best of my ability, but I believe further detail will be needed.  For tax filing purposes you will need to keep track of the following:  wages, investments, other income, etc.  If you have self employment income, then a Schedule C will be needed to be completed to record income from self employment and related costs such as cost of goods sold and expenses directly related to the business.  I will include a link about self employment income and expenses.  I would also recommend to consider looking into Quickbooks and the mileage application.  It is a great tool to keep track of self employed income and expenses to make tax preparation easier and can be utilized as your business grows. 

Schedule C