Proper categorization is essential for accurate tax reporting. Simple-C uses IRS Schedule C categories to keep your books tax-ready.
IRS categories
Simple-C includes all standard Schedule C expense categories:
- Advertising
- Car and truck expenses
- Contract labor
- Insurance
- Office expenses
- Supplies
- Travel
- Meals (subject to 50% deduction)
- Utilities
- And more…
How to categorize
- Select an expense from your list
- Choose the appropriate IRS category from the dropdown
- The expense is now categorized and will appear in your reports
AI suggestions
Simple-C can suggest categories based on the expense description. When you see a suggestion, click to accept it or choose a different category.