—
—
Net profit
$0.00
Income less every deduction below
Est. self-employment tax
$0.00
Income
$0.00
Sales tax invoiced
$0.00
Profit & loss
Click a line to see what's in itSchedule C summary
| Line | Description | Amount |
|---|
Suggested IRS Schedule C (Form 1040) lines. Your accountant decides where each amount belongs.
Sales tax
| Rate | Invoices | Tax invoiced |
|---|
Estimated tax payments
| Paid | To | Quarter | Note | Amount |
|---|
Equipment & depreciation
Lifts, scanners, compressors, trucks: anything that lasts more than a year. Don't also log the purchase as an expense.
| Equipment | In service | Method | Cost | This year |
|---|
| Reference | Client | Date | Sales tax | Received |
|---|
Money received less the sales tax inside it. "Recorded" means the invoice was marked paid without a payment entry, so it is dated by its paid date.
| Reference | Client | Paid | Part cost |
|---|
The cost entered on billed part lines, counted when the job is paid (a partial payment carries its share).
| Contractor | Paid | Note | Amount |
|---|
Payouts recorded on the Contractor pay page.
| What | Date | Detail | Amount |
|---|
Wages are the labor cost of pay periods closed on the Time page, before payroll taxes. Card fees are processor fees on online card payments.
| Equipment | Method | This period |
|---|
Each year's depreciation is spread over that year, so a quarter carries its share.
By category
| Category | Sch. C | Entries | Spent | Deductible |
|---|
Entries
| Vendor | Category | Date | Amount | Deductible |
|---|
| Route | Kind | Date | Miles | Deduction |
|---|
| Invoice # | Client | Date | Rate | Tax |
|---|
Trackara Pro is a record-keeping tool. It does not provide tax, legal, or accounting advice. Mileage rates, deduction estimates, and reports are provided for convenience only, may not reflect current IRS or CRA rules or your situation, and may contain errors. You are responsible for the accuracy of your records, the rate you use, and confirming any deduction with a qualified tax professional before filing.
Income, cost of parts and expenses are on a cash basis (when money moved). Sales tax invoiced is by invoice date. Self-employment tax is an estimate on this period's profit alone; income tax is not estimated.
Income, cost of parts and expenses are on a cash basis (when money moved). Sales tax invoiced is by invoice date. Self-employment tax is an estimate on this period's profit alone; income tax is not estimated.