They key to using Schedule C to create a balance sheet is separating your personal finances from your small business.

Schedule C: What It Is, Who Has to File It Schedule C is an IRS tax form that reports profit or loss from a business. Sole proprietors or single-member LLCs typically use the form.

However, a Schedule C form is required to report your businesses profits and losses. When you decide to close your sole proprietorship, there are no special instructions to follow, except what is ...

The new Form 1040 is one page with just 23 lines, but for many taxpayers, the challenge will be Schedules 1 through 6 ...

You can use Schedule C-EZ if you have $5,000 or less in business expenses, and if you do not have a net loss in the business for the year. There is an instruction page that comes with the form to ...