Business Profit and Loss
Use this form to enter profit and loss amounts and explanations, be sure to add files with supporting documents example, bank statements, ledgers and/or receipts.
  • Please enter full legal name, make to add LLC, INC, CORP ETC..
  • Please upload your IRS EIN acceptance letter. On the bottom of this letter you will find the type of corporate tax form you will be filing, example 1120, 1120-S, 1065 etc...

  • Anyone who is paid at least $600 within the calendar year must be reported to the IRS.
  • Your Business is classified as a C-Corp by default, you must apply to become S-Corp with the IRS, if you are not sure what entity your business is, then choose "Not Sure"

  • If you are entering this profit and loss for the whole year at once, please choose the "Annual Report" Option.

  • Income

    Enter All Business Income. Do not exclude any amounts.
  • $ .

    Add all (12) Bank Statements deposits and credits.

    This means all sales income of the Business, This includes but not limited to Cash, Checks, Credit card sales etc...
  • You must upload all 12 bank statements here, if you have paper ledgers and worksheets you must upload them here as well. You must support the income stated above.

  • Enter all Deductions and Expenses

  • $ .
  • $ .
  • $ .

    (Other than vehicle lease payments)
  • $ .

    Add up all expenses like Flyers, Websites, business cards, Uniforms, marketing, craigslist ad postings etc...
  • $ .

    Add up all interest paid on credit cards and Business loans if any.
  • $ .

    Enter the sum of salaries of all 1099-Misc and W-2.

  • If your Business have W-2 employees, make sure to mention this to the tax expert at your visit to the office.

  • $ .

    Add up all accounting and tax preparation cost and enter here.
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    Add up all banking fees. You can request a copy from you local branch.
  • $ .

    Add up all expenses you had in the form of commissions, this are funds paid for refferals or business leads.
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    Add up all the amounts paid to companies that you have not already reported under 1099-Misc form.
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    Add up all credit card fees. You can request a stament from your credit card companies.
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    Add up any gifts givings.
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    Add up all insurance related expenses here, like workers copensations, liability insurance etc.
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    Cleaning Expenses, any company you paid for cleaning, pressure washing, carpert cleaning. any clealiness related expenses.
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    Attorney fees, law representation fees and expenses related to any professional fees paid.
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    Any stamps purchases, example: USPS, UPS, FEDEX, DHL. Add up all postage related expenses.
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    Add up here all susbcriptions related to your business, software usage, emails, hostings, websites cost, professional licenses fees, enrollments etc.
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    Add up here all purchases for supplies. this is not Materials, Supplies are items like, computers, welding maching, compressor, these are itmes are usually reusable.
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    Add up here all telephone related bills, VOIP, office phones, cellphones, employee cellphones paid by company.
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    Add up here, Power, Gas, Water Trash, Sewage etc, The IRS needs one sum amount for Utilities.

  • Other Deductions NOT mentioned above.

    You will use the following lines to eneter any other expenses not mentioned above. Make sure to describe each expense.

  • Example: Fuel, Tires, or any other specific item not mentioned above.
  • $ .

  • Example: Fuel, Tires, or any other specific item not mentioned above.
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  • Please complete the Compensation Officer Only if the Business reported income of more than $500,000.


    Income does not mean "Profit", this is for Net Income. You must complete 1125-E anytime a company reported income above the mentioned amount you must assign a person called "compensation officer".
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