Jacob Weaver is a contractor operating as a sole proprietorship (EIN 12-3456789). 2018 Gross income: $278,322.25.

• Business expenses:
  • Fuel for equipment $64,080.00
  • Repairs and maintenance $17,342.00
  • Lubricants for Equipment $9,670.00
  • Insurance $6,500.00
  • Wages $6,300.00
  • Vehicles $1,768.00
  • Legal and Professional Expenses $1,750.00
  • Taxes and Licenses $1,412.00
  • Advertising $300.00
• Clients owe him a total of $53,000, for work completed in 2018.
• 2018 estimated tax payments were $25,000.
• He is using a bedroom in his house as a home office. (Square footage of home 5,600 Office 240 sq. ft.)
• He has one half-time employee, Martin, who had been unemployed since returning from Afghanistan and is disabled.
• Martin worked for Jacob for 20 hours a week, for 41 weeks of 2018. He earned $10,500.
• Jacob had to spend $7,350 for disabled access equipment for Martin.