BUSINESS FORMS
BUSINESS MILEAGE DEDUCTION WORKSHEET
Business vehicle mileage is a popular audit target for the IRS, especially because the documentation rules are so difficult to maintain that the IRS can often disallow most or all of your deduction if the proper documentation is missing. These days, there are several apps that can help you track your mileage automatically, and we highly recommend those. If you are looking for an Excel template that can help you document your miles, we also offer the template below.
Feel free to download the Mileage Deduction Template below, and use that to help properly document your deduction support.
TRAVEL AND MEALS WORKSHEET
Travel and meals expenses are also popular audit targets for the IRS, as they are some of the more commonly abused deductions, and also very difficult to documentation properly, because of the strict documentation rules in place to meet the IRS requirements. If you are looking for an Excel template that can help you document your travel and meals deductions, we offer the template below. Please note that Entertainment expenses are no longer a tax-deductible business expense.
Feel free to download the Travel and Meals Deduction Template below, and use that to help properly document your deduction support.
SCHEDULE C BUSINESS INCOME & EXPENSE TRACKING WORKSHEET
We find the many smaller businesses don't have, or don't really require, a formal accounting system such as Quickbooks. Maintaining a full accounting system for a very small business can be unnecessarily time-consuming. So we have put together the template below that can help you track your business income and expenses on a monthly basis. That info is helpful to you as a business owner, and comes in really handy for us in tax season when it is time to prepare your tax returns. The file also has tabs to help you with your home office expenses, and business asset purchases.
Feel free to download the simple template below to help you track your business income and expenses throughout the year, and submit it to us in tax season along with the rest of your tax documents and info: