Organizations and individuals that pay you money — whether a company, a financial institution, or a person who hires you as contractor — typically must report how much they paid you to the IRS.

Businesses regularly generate several major financial statements -- such as the income statement, cash-flow statement and the balance sheet -- to record and summarize financial activity. The income ...

Your income statement records your profit and loss for a given period, which tells you how your business performed during that time. If you purchase equipment and recognize the expense all at once, ...

Create and customize an income statement to fit your business's needs, then save, print or send. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

What Is An Income Statement? An income statement lists a company’s income, expenses, and resulting profits over a specific time frame, usually a quarter or fiscal year. Companies create income ...

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...