582,106
I always keep receipts, canceled checks and copies of invoices. My CPA insists on it.
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Sandra Steele
Cottonwood, AZ
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Thomas J. Nelson, REAL...
La Jolla, CA
-
Anthony Acosta - ALLAT...
Atlanta, GA
5,035,139
Its so easy to scan receipts in an on-line file. You must have receipts for deductions..estimating doesn't cut it!
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Thomas J. Nelson, REAL...
La Jolla, CA
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Eric Kodner
La Pointe, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
3,986,308
4,907,547
I scan them and also track them and give a recap to my cpa. I use one business card strictly for business so it makes it easy.
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Noah Seidenberg
Evanston, IL
-
Sandy Padula & Norm Pa...
, CA
1,664,936
I keep online and paper info for the tax accountant.
-
Sandy Padula & Norm Pa...
, CA
2,222,281
Keep receipts. You may want to consult with your CPA so you know what information you will need when filing taxes Desmond Neoh
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Anthony Acosta - ALLAT...
Atlanta, GA
1,598,452
2,071,025
5,879,816
45,957
I keep all of my receipts for everything and right now I just write everything down in a notebook but I'd like to come up with something better.
2,707,721
I use a business credit card for all expenses and Quickbooks to keep my accounting in line...my CPA is so happy with these practices
5,117,178
Simple for me... I hand or email all receipts to my husband, who manages everything in QuickBooks and then sends on to our accountant.
7,871,821
5,246,557
2,759,862
I keep track of everything. Being a good steward of your financial resources is essential in this business.
634,532
Estimates are not good for our accounting, Desmond Neoh. Keep your expense receipts and write notations on them to identify the expense.
117,040
I just attended a program on Taxbot. It looks like a great resource and the mileage tracker is fabulous. There is a two week free trial.
4,319,873
Desmond Neoh - usually credit card statements and receipts are important to keep track of expenses. There are some apps for that, too
1,771,867
I just put it all on one separate credit card and get the statement at the end of the year.
3,168,284
my firm is a c- corp, I w-2 myself and pay taxes. My corporation keeps up with all it's receipts and I use Sage Accounting and provide my CPA with that.
1,507,073
2,684,769
On paper, on hard drive, on backup drive, on DVD disks, and in the Cloud.
The records and receipts that you fail to keep will be the ones needed in a civil suit or an IRS audit!
1,625,353
I try to use only one credit cards for all my business related expenses. If you pay cash or check, keep receipts( and records).
3,383,434
I keep receipts, but also enter them into a monthly income/expenses spreadsheet.
1,728,867
2,163,483
Estimating isn't keeping track, is it? Keeping receipts and other documentation is essential not only for tax purposes.
1,712,876
77,119
564,720
4,800,132
5,583,328
4,968,101
1,466,257
Desmond Neoh All receipts right down to the penny. You'll be glad you did in the event of an IRS audit.
3,350,764
Yes. Receipts for EVERYTHING. I use Quicken. I track my miles as well. I do that manually with a monthly mileage log. I prepare everything and take to my CPA. IRS wants receipts. I note the client name on the receipt and what I discussed. My mileage log will note I also saw that client, on that day, at that restaurant ... connecting the dots. As Dorie Dillard points out ... estimates don't cut it.
1,157,791
921,504
Not long ago I received payment for my claim for the BP oil spill.
Without receipts I would have been SOL.
I scan everything and keep the paper. Six years later all the type on the receipts has turned invisible making that box somewhat irrelevant.
If you ever have issues with Fed Gov Departments, you will be 'Oh so happy' to have saved everything for longer than 10 years.
6,426,149
1,242,204
32,857
You always want to keep a paper copy. That way you can track it completely
1,555,095
I track all my expenses right in my Buffini & Company Referral Maker CRM for my reports at a glance, I transfer them monthly to QuickBooks and then e-mail my CPA the quarterlies. I keep the receipts for 5 years.
617,935
There is a file for the paper receipts and folders on the computer for the electronic receipts.
5,063,430
I keep all receipts by month, and have a large P and L spreadsheet to track all income and expenses
1,525,616
I keep receipts and also go through my credit card bills and check register.