Washington Financial Statement Sole Proprietors and Individuals are individuals who file taxes as a sole proprietor in the state of Washington and report their income and expenses on a financial statement. This statement is used to report gross income and expenses, which are then used to determine the amount of taxes due. There are two types of Washington Financial Statement Sole Proprietors and Individuals: individuals filing as a sole proprietor with an EIN (Employer Identification Number) and individuals filing as a sole proprietor without an EIN. Individuals filing as a sole proprietor without an EIN report their income on a Schedule C (Profit or Loss from Business) and report their expenses on Schedule C-EZ (Net Profit from Business). Individuals filing as a sole proprietor with an EIN report their income and expenses on the same form, Form 1040, as any other individual.
Washington Financial Statement Sole Proprietors and Individuals
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