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Total Amount: This column automatically gets updated as you list your expenditure numbers under the Expenses tab.This column organizes your expenses more clearly, letting you know where to save money. Schedule C Category: The categories in Schedule C determine what you can and cannot write off from your taxes.Its purpose is to let you navigate your costs more quickly to ensure that you’re putting the right amount in the correct category. Line: The numbers under this column correspond to the various categories of Schedule C.There’s no need for you to edit this section, as the spreadsheet formulas will automatically do the calculations for you.
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This tab features five columns, presenting a quick overview of your costs as an independent contractor. Let’s explore these in more detail below. There’s also the Expenses tab where you can enter the figures of all your payments and purchases. After opening your copy, you’ll see the Summary tab, which includes the total amount per category and the possible tax deductions you can take. Our template is simple, containing only two tabs that you need to use to track your business expenditures. How Do Independent Contractors Keep Track of Income and Expenses?Įxploring Our Free Independent Contractor Expenses Spreadsheet How Do I Report Independent Contractor Expenses? What Should a Good Taxes Spreadsheet Template Have?.Common Independent Contractor Tax Deductions You Shouldn’t Pass Up.Exploring Our Free Independent Contractor Expenses Spreadsheet.