Per the IRS Tax Code, "the Schedule C-EZ, Net Profit from Business (Sole
Proprietorship), is the simplified version of Schedule C, Profit or
Loss from Business (Sole Proprietorship)."
Using Schedule C-EZ can save considerable time, reduce the paperwork
burden associated with the Filing of the Long Schedule C Form and
Professional Filing fees associated with Schedule C. But the IRS has
strict rules regarding who can use this Short Schedule C-EZ!
Taxpayers may be eligible
to use the abbreviated Schedule C-EZ instead of the longer Schedule C
when reporting business income and expenses on your Form 1040 federal
income tax return.
To continue reading, click here.
No comments:
Post a Comment