Income Summary .xlsx

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1	Instructions:
2		Only fill out the information in the YELLOW colored fields
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4	Make sure to DOWNLOAD this before you enter your information. It will not save on this site
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7	Your Company Here			Company Name
8	123 Your Street			Street Address
9	Your City, ST 12345			City, State, ZIP
10	(123) 456-7890			Phone Number
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12	Basic Information
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14	Date		Business Code (NAICS)		EIN		Select the Type of Business (drop down)
15	0/00/0000		#11111		#11111		1120 - C Corporation
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17	Date Business Started		Date Business Cosed
18	0/00/0000		0/00/0000
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22	Income Information					Cost of Goods/Sales Information
23	Total Sales Paid by 1099		$150,000.00			Inventory Valuation Method (Dropdown)		Cost
24	Total Sales Paid by 1099		$150,000.00
25	Other Sales		$265,000.00
26	Other Sales		$265,000.00			Was there a change in Method for this tax year? (Dropdown)		NO
27	Returns/Discounts		$48,500.00
28	Returns/Discounts		$48,500.00
29	TOTAL		$366,500.00
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32	($ Amounts Only if no inventory, skip and just answer all applicable questions)					List of Expenses
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35						Expense Item		Amount	Expense Item		Amount
36	Beginning Inventory		$0.00			Expense Item		Amount	Expense Item		Amount
37	Beginning Inventory		$0.00			Advertising		$1,523.00	Rent or Lease – vehicle/machinery		$45,687.00
38	Total Purchases		$63,000.00			Commissions and Fees		$4,523.00	Rent or Lease – vehicle/machinery		$45,687.00
39	Total Purchases		$63,000.00			Contract Labor – 1099		$165,000.00	Rent of Lease - other		$0.00
40	Cost of Labor		$48,500.00			Employee Benefits		$23,000.00	Repairs/Maintenance		$0.00
41	Cost of Labor		$48,500.00			Insurance (Total)		$4,789.00	Supplies		$0.00
42	Materials and supplies		$27,000.00			Interest – mortgage		$0.00	Taxes and Licenses		$0.00
43	Materials and supplies		$27,000.00			Interest – other		$653.00	Travel		$0.00
44	Other Costs (Please send separate summary detailing these)		$15,000.00			Legal and Professional Services (Ex. Tax/Atty)		$15,789.00	Meals/ Entertainment		$0.00
45			$15,000.00			Legal and Professional Services (Ex. Tax/Atty)		$15,789.00	Utilities		$0.00
46			$0.00			Office Expenses – (Please send detailed list) Example (Phone/Internet/Postage.. etc.)		$23,698.00	Wages - Payroll		$0.00
47	Ending Inventory		$0.00						Other Expenses not listed (please send detailed list with summary and totals)		$0.00
48	Ending Inventory		$0.00
49			$0.00
50	TOTAL		$153,500.00			T O T A L				$284,662.00
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52	Depreciable Property Automobiles/Machinery/Furniture					Other Vehicle Expenses
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55	Year		2023			Expense Item		Amount	Expense Item		Amount
56	Make		Lamborghi			Expense Item		Amount	Expense Item		Amount
57	Model		Yurus			Garage Rent		$2,365.00	Rental Fees		$0.00
58	First Date Used in Business		01/01/2023			Gas/Fuel		$5,234.00	Interest		$0.00
59	Purchase Price		$215,000.00			Insurance		$2,354.00	Property Tax		$0.00
60	Has Depreciation been used on the vehicle? (Dropdown)		YES			Licenses		$3,265.00	Repairs		$0.00
61	Has Depreciation been used on the vehicle? (Dropdown)		YES			Oil Changes		$0.00	Tires		$0.00
62	If Yes, Prior Depreciation		$50,000.00			Parking Fees		$0.00	Tolls		$0.00
63	Vehicle Mileage Driven (Business Only)		15000			T O T A L				$13,218.00
64	Vehicle Mileage Driven (Business Only)		15000
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