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What is a Personal Tax Return?
What is a Personal Tax Return?
Updated over 3 weeks ago

A personal tax return is a document filed with the IRS that reports an individual’s income, expenses, and taxes for a specific year. For business owners, it includes income from the business as well as other personal earnings.

This document should include:

  • Full returns, including all schedules and forms filed with the IRS

  • Detailed income, deductions, and credits

Personal tax returns are required for an SBA loan because they help lenders evaluate the business owner's ability to repay the loan by looking at their personal financial health and income.

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