| 2004 BUSINESS INCOME AND DEDUCTIONS | ||||||||||
| Gross Income | ||||||||||
| 1 | Receipts or sales (income) | |||||||||
| 2 | Returns and allowances | |||||||||
| If Retail | ||||||||||
| 1 | Beginning inventory | |||||||||
| 2 | Purchases for resale | |||||||||
| 3 | Ending Inventory | |||||||||
| Auto Deduction | ||||||||||
| Auto Type | ||||||||||
| Mileage Information | ||||||||||
| Odometer reading beginning of year | ||||||||||
| Odometer reading end of year | ||||||||||
| Total miles during 2004 | ||||||||||
| Business miles during 2004 | ||||||||||
| Commute miles during 2004 | ||||||||||
| Auto Expenses (if not using standard mileage rate) | ||||||||||
| Lease payment | ||||||||||
| Interest on loan payment | ||||||||||
| Gas | ||||||||||
| Auto Insurance | * | |||||||||
| Repairs | ||||||||||
| Questions for All Taxpayers Claiming Automobile Expenses: | ||||||||||
| Yes | No | |||||||||
| 1 | Do you have evidence to support your deductions | |||||||||
| 2 | If yes, is the evidence written? | |||||||||
| 3 | Do you (or your spouse) have another vehicle available for personal use? | |||||||||
| 4 | Do you have an employer-provided vehicle which is available for personal use? | |||||||||
| 5 | Were you reimbursed for any of above auto expenses | |||||||||
| 6 | If yes, is the reimbursement included in your form W-2? | |||||||||
| Recordkeeping: Your automobile expenses will not be allowed by the IRS without | ||||||||||
| adequate records or sufficient evidence verifying business use. Daily records | ||||||||||
| provide the best protection in case of an audit. | ||||||||||
| DEDUCTIONS: | ||||||||||
| 1 | Accounting | |||||||||
| 2 | Advertising | |||||||||
| 3 | Bad Debts | |||||||||
| 4 | Bank charges | |||||||||
| 5 | Commissions | |||||||||
| 6 | Credit and collection | |||||||||
| 7 | Delivery and freight | |||||||||
| 8 | Dues and subscriptions | |||||||||
| 9 | Employee benefit programs | |||||||||
| 10 | Equipment rent | |||||||||
| 11 | Gifts | |||||||||
| 12 | Insurance (Business/liability) | |||||||||
| (auto insurance see * above) | ||||||||||
| 13 | Insurance Health | |||||||||
| 14 | Interest (not investment) | |||||||||
| 15 | Janitorial | |||||||||
| 16 | Laundry and cleaning | |||||||||
| 17 | Legal and professional | |||||||||
| 18 | Meals and entertainment - 100% or | |||||||||
| Days out overnight | ||||||||||
| 19 | Office expense | |||||||||
| 20 | Outside services | |||||||||
| 21 | Parking fees and tolls | |||||||||
| 22 | Pension and profit sharing | |||||||||
| 23 | Permits and fees | |||||||||
| 24 | Postage | |||||||||
| 25 | Printing | |||||||||
| 26 | Rents | |||||||||
| 27 | Repairs and maintenance | |||||||||
| 28 | Salaries - officer/shareholders | |||||||||
| 29 | Salaries and wages - others | |||||||||
| 30 | Security | |||||||||
| 31 | Supplies | |||||||||
| 32 | State Income or Franchise Taxes | |||||||||
| 33 | Property taxes | |||||||||
| 34 | Payroll taxes | |||||||||
| 35 | Other taxes | |||||||||
| 36 | Licenses | |||||||||
| 37 | Telephone | |||||||||
| 38 | Tools | |||||||||
| 39 | Travel | |||||||||
| 40 | Uniforms | |||||||||
| 41 | Utilities | |||||||||
| 42 | Other deductions (itemize:) IF YOU DON'T SEE ITEM LISTED ABOVE, ADD BELOW: | |||||||||
| Business Use of Home | ||||||||||
| Sq Ft. of House | ||||||||||
| Sq. Ft. of Office | ||||||||||
| Electrical | ||||||||||
| Gas/Fuel Oil | ||||||||||
| Water | ||||||||||
| Trash | ||||||||||
| Insurance (home owners) | ||||||||||
| Improvements | ||||||||||