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It provides dedicated sections to list business income categories tied to 1099-MISC and self-employment W2, calculate cost of goods sold including production costs and ending inventory, and itemize deductible expenses such as advertising, equipment purchases and rentals, insurance, legal and accounting, taxes, travel, meals, payroll-related items, and other miscellaneous costs. It also includes guidance for subcontractors exceeding $600 and references related worksheets for auto, equipment, per diem, and estimated payments.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/business-incomeexpense-worksheet-fill-out-one-sheet-for-each-business/241548/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/business-incomeexpense-worksheet-fill-out-one-sheet-for-each-business/241548.png","ImageObject",442,249,{"name":88,"@type":89},"Skyler","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-12","2026-09-12",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",6,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What information is collected in the income section of the worksheet?","Question",{"text":109,"@type":110},"The worksheet collects business income details tied to 1099-MISC and self-employment W2, including any sales tax collected when applicable.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"How does the worksheet define cost of goods sold?",{"text":114,"@type":110},"It includes total production costs (direct costs to make products) and ending inventory valued at cost rather than retail.",{"name":116,"@type":107,"acceptedAnswer":117},"What requirement applies to subcontractors?",{"text":118,"@type":110},"If you paid $600 or more to subcontractors, you must file Form 1099-NEC for their labor costs by January 31.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},241548,1789177374,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":9,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":126,"read_time":4},2336464648746,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","BUSINESS INCOME/ EXPENSE WORKSHEET  \n\n| FILL OUT ONE SHEET FOR EACH BUSINESS-DO NOT COMBINE |  |  |  |\n| --- | --- | --- | --- |\n| Business Name / Profession |  |  |  |\n| INCOME 1099-MISC / SELF-EMPLOYMENT W2 |  |  |  |\n| Income Received (List all self-employed income in 1099 / Self Employment column) |  |  |  |\n| Sales Tax Collected (If included in income above-only if you charge sales tax) |  |  |  |\n| COST OF GOODS SOLD 1099-MISC / SELF-EMPLOYMENT W2 |  |  |  |\n| Total Production Costs (Direct costs to make products) |  |  |  |\n| Ending Inventory (At your cost, not retail) |  |  |  |\n| EXPENSES 1099-MISC / SELF-EMPLOYMENT W2 |  |  |  |\n| Advertising: Promo, Website costs, etc. (Anything for promotion of business) |  |  |  |\n| Auto Expenses (See auto and in home office worksheet below) |  | SEE AUTO W | ORKSHEET |\n| Commissions and Fees (Agents, managers, etc.) |  |  |  |\n| Subcontractors * (Total labor-Did you pay any one person more than $600?)  YES  NO |  |  |  |\n| Equipment Purchases (Items costing more than $500 have a useful life > 1 year) |  | SEE EQUIPMEN | T WORKSHEET |\n| Business Insurance |  |  |  |\n| Business Interest (Loans or 100% business credit cards) |  |  |  |\n| Legal and Accounting |  |  |  |\n| Office and Postage |  |  |  |\n| Equipment Rental (Equipment Rental and Car Rental—including gas) |  |  |  |\n| Business Rent (Rent for office or practice space) |  |  |  |\n| Equipment Repairs (Repairs on computers, equipment, etc.) |  |  |  |\n| Supplies (Any small items needed for bus.) |  |  |  |\n| Taxes & Licenses (Business licenses and/or Misc. Business taxes-MNCare, etc.) |  |  |  |\n| Travel (Airfare, lodging-not food or auto) |  |  |  |\n| Local Business Travel (Uber, Lyft, Taxi) |  |  |  |\n| Meals In Town (Business meals, coffee, drinks with others) |  |  |  |\n| Entertainment (Sporting events, golf etc) |  |  |  |\n| Days Out of Town (For out of town meal per diems) |  | SEE PER DIEM | WORKSHEET |\n| Wages Paid to Others (Provide details on payroll and payroll taxes) |  |  |  |\n| Bank and Credit Card Charges (On business accounts) |  |  |  |\n| Dues and Subscriptions (Memberships, magazines, etc.) |  |  |  |\n| Research and Development (Books, classes, activities in your field) |  |  |  |\n| Telephone (Bus. line, 2nd line, and bus. % of cellphone) | Bus. Use % |  |  |\n| Internet (List % used for business) | Bus. Use % |  |  |\n| Computer Software |  |  |  |\n| Printing and Film Processing (For business photos) |  |  |  |\n| Business Gifts (Limited to $25 per recipient per year) |  |  |  |\n| Costumes and Props (Performers-things only worn on stage) |  |  |  |\n| Personal Maintenance (Performers-direct costs for performance image) |  |  |  |\n| OTHER |  | 1099-MISC / SELF-EMPLOYMENT | W2 |\n| Health and Dental Insurance Paid |  |  |  |\n| Quarterly Estimates Paid (Provide dates & amounts paid) |  | SEE ESTIMATED PAYMENTS | WORKSHEET ON NEXT PAGE |\n| Other: |  |  |  |\n\n* REQUIRED-If you paid $600 or more to subcontractors, you must file a form 1099-NEC for their labor costs by January 31st  \n* You can create and file Form 1099-NEC online with 15% discount, Click Here","cbCaijH8cBkuaACo","https://ap.wps.com/l/cbCaijH8cBkuaACo","pdf",531714,"English","# Business income and expenses worksheet\n## Income (1099-MISC / self-employment W2)\n## Cost of goods sold (1099-MISC / self-employment W2)\n## Expenses (1099-MISC / self-employment W2)\n## Notes and required forms guidance","[{\"question\":\"What information is collected in the income section of the worksheet?\",\"answer\":\"The worksheet collects business income details tied to 1099-MISC and self-employment W2, including any sales tax collected when applicable.\"},{\"question\":\"How does the worksheet define cost of goods sold?\",\"answer\":\"It includes total production costs (direct costs to make products) and ending inventory valued at cost rather than retail.\"},{\"question\":\"What requirement applies to subcontractors?\",\"answer\":\"If you paid $600 or more to subcontractors, you must file Form 1099-NEC for their labor costs by January 31.\"}]","Business Income/Expense Worksheet - Fill Out One Sheet For Each Business | PDF"]