These tips from the IRS are mainly for independent contractors, LLCs and partnerships; corporations have other issues. But check out how to report self-employed income as well as deductions:

http://content.govdelivery.com/accounts/USIRS/bulletins/ab6847?reqfrom=share

Now that you have this basic information you will now see how simple (or complicated based on what your business generates and deducts) this can be. You can always call or email me if you have a problem, as I deal with about 50 small businesses that have these same issues (plus my own.)

For financial, accounting and tax musings,