Sole proprietor and single-member LLC taxes: Schedule C and California Form 540
Your business profit flows onto your personal return. Schedule C reports business income and expenses.
- Agency
- IRS + CA Franchise Tax Board
- Who has to do it
- Sole proprietors and single-member LLCs owned by one person.
- If it's late
- Failure-to-file and failure-to-pay penalties plus interest.
Step by step
IRS forms
Gather last year's profit and loss. If you use Dulybook's summary, check it against your bank statements first.
Enter revenue and each expense category on Schedule C.
Calculate self-employment tax on Schedule SE.
File federal Form 1040 and California Form 540, or file an extension by the due date.
Dulybook is a tracking and guidance tool, not tax or legal advice. Rules, fees, and websites change, so always confirm on the official agency page before you file or pay. Dulybook doesn't file anything for you. Terms of Service