PROFESSIONAL INCOME STATEMENT CHECKLIST

Revenue
Sales, Fees, Commissions
Income reserve claimed-2003 T1

Operating expenses
Advertising
Bad debts
Business tax, fees, licenses,
      dues & memberships
Delivery and freight
Insurance
Professional liability insurance
Interest and bank charges
Maintenance & repairs
Meals and entertainment
Office expenses
Supplies
Professional fees (legal, accounting)
Rent
Salaries and wages
Travel
Telephone and utilities
Capital cost allowance of capital assets
      (Ex. Computers, software, furniture etc)

Automobile Expenses
Total Kms driven in 2006
Kms for business use
Gas/Fuel
Repairs and maintenance
Auto rental
Insurance
License registration
Auto loan interest
Leasing costs
Capital cost allowance

Office At Home Expenses
(Only if it is principal place of business)
(Office @ home expense cannot be deducted to create or increase a loss.)

Space used for business
Total space in home
Mortgage interest
Rent
Utilities (Heat, Hydro, Water)
Repairs and maintenance
Insurance
Property taxes



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