
- Why would I want to use the Schedule C business reporting
method ?
- How do I report with the ... ?
- Where can I find ... ?
- Why doesn't ... ?
- Who is ... ?
- What is ... ?
- When is ... ?

The simplest method to report your income is on Schedule C of the 1040 form. This
is also known as accounting for sole proprietors. It allows you to deduct the maximum
business expenses, including all the standard expenses, such as business use of your home,
automobile expenses and so forth. Using Schedule C assures that you will be taxed
only once for income while you are alive. Corporations and other business entities
are taxed and then you pay tax on what is left over.

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Revised: April 17, 2005.