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Last year, you started a business as a sole proprietor called Tax Consulting, LLC as a single member LLC AKA disregarded entity. You provide tutoring
Last year, you started a business as a sole proprietor called Tax Consulting, LLC as a single member LLC AKA disregarded entity. You provide tutoring services to college students to help them pass the Enrolled Agent exam. As a part of your tutoring services, you sell authorized copies of Gleim's textbook. In addition, you operate on a cash basis of accounting.
Fast forward: You've been in business for a full year, and it's now time for you to file your Schedule C Form
You collected $ in cash for tutoring services.
You have hours of tutoring for the last week of December that was not billed to students at the rate of $ per hour.
The total rent for your office is $ per month for months.
Utilities total $ for the year.
You paid a parttime receptionist $ in wages to answer the phone and make appointments.
You paid an independent contractor $ to help with tutoring students.
Your total costs for office supplies, such as pens, paper, etc., totaled $ for the year.
You decide that the education system is lagging in your city, and you donate $ to your local high school.
You purchased Gleim books for $ each and you sold of them for $ each.
The total miles on your automobile for the year equal miles of which miles were for business purposes. Assume the mileage rate is cents per mile.
Depreciation expense on office furniture is $ for the year.
You paid $ for personal health insurance. The receptionist is parttime and she was not on the plan.
You take your independent contract out to dinner to discuss a new curriculum. The restaurant cost is $
Your advertising costs total $ for the year.
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