Does TaxTouch work with Schedule C-EZ?

You can use Xero TaxTouch to track you business related income and expense if you choose to use either Schedule C-EZ or Schedule C.  

Schedule C-EZ is the simplified version of Schedule C where you can report your business related expenses as one amount. 

IRS states that you can use Schedule C-EZ if you have a profit from your business and:

  • your expenses are not greater than $5,000,
  • you have no employees,
  • you have no inventory, and
  • you are not using depreciation or deducting the cost of your home

For more information about Schedule C-EZ see the IRS web site Schedule C-EZ (Form 1040), Net Profit From Business

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