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Running a small business, the local way

Guides, comparisons, and compliance how-tos for small businesses in the Philippines, Australia, and the United States. Written by the team building Wemu.

FeaturedCompliance·🇺🇸 United States·Apr 17, 2026

Schedule C for small business: the 2026 IRS filing guide

If you're a sole proprietor or single-member LLC in the US, Schedule C is how you tell the IRS what your business did this year. Here's the line-by-line guide — plus the deductions most first-time filers miss.

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IRS SCHEDULE C (FORM 1040)Profit or Loss From Business · Tax Year 2025OMB 1545-0074PART I — INCOMELine 1 · Gross receipts$186,420Line 4 · Cost of goods sold$42,180PART II — EXPENSESLine 8 · Advertising$3,200Line 17 · Legal + professional$1,840Line 18 · Office expense (software)$2,940Line 20a · Rent (workspace)$14,400Line 22 · Supplies$5,120Line 25 · Utilities$2,280Line 26 · Wages (W-2)$38,600LINE 31 · NET PROFIT (to Form 1040)Gross receipts − COGS − Total Expenses$75,860