Posts Tagged ‘Receipts’
Harrison Miracle asked:
I’m a contract worker and make about $20,000 a year, a tax person said i should pay about $1000-$1,200 4 times a year for taxes. I was just wondering, do I write off business expenses when I pay taxes 4 times a year or do I figure that out at the end of the year with receipts. My parents think that i do it at the end of the year, but I just want to make sure.
Brett
I’m a contract worker and make about $20,000 a year, a tax person said i should pay about $1000-$1,200 4 times a year for taxes. I was just wondering, do I write off business expenses when I pay taxes 4 times a year or do I figure that out at the end of the year with receipts. My parents think that i do it at the end of the year, but I just want to make sure.
Brett
charlemagne8410 asked:
Does the IRS accept paper receipts to document expenses for business taxes or are you required to have documentation on bank statements?
Krysta Stant
Does the IRS accept paper receipts to document expenses for business taxes or are you required to have documentation on bank statements?
Krysta Stant
hispas333 asked:
Or do you have to have actual paper reciepts for everything?
Or do you have to have actual paper reciepts for everything?
If so, what happens if you lose receipts, or they are damaged, torn or faded? If you are audited what are you suppsed to do?!
I’m not talking cash reciepts, I understand those must be kept if you expect to deduct items. But what about debit card and credit card purchases?
Are bank statements proof enough?
Florentino Salsberg
Paul M asked:
I’m doing my taxes and realized that I lost track of some of my receipts for some purchases I made. If I point out which transactions on my bank statements were business related and what they were for, is that enough of a record for the IRS if I were to get audited?
Beau Naples
I’m doing my taxes and realized that I lost track of some of my receipts for some purchases I made. If I point out which transactions on my bank statements were business related and what they were for, is that enough of a record for the IRS if I were to get audited?
Beau Naples
laurenhonish asked:
My job cut my hours and I don’t get receipts from the payments that I make to other bills: credit cards, car note, phone bill, ect.
My job cut my hours and I don’t get receipts from the payments that I make to other bills: credit cards, car note, phone bill, ect.
How do I show “Documentation to support all monthly expenses”?
Fumiko Blouir
Ronald Rays asked:
I had filed my return for the year 2006 in time and I have claimed deductions for medical expenses. Now I find that I cannot trace some of the receipts. Is it OK ? What other supporting evidence I should give in this case ?
Hubert Pedretti
I had filed my return for the year 2006 in time and I have claimed deductions for medical expenses. Now I find that I cannot trace some of the receipts. Is it OK ? What other supporting evidence I should give in this case ?
Hubert Pedretti
Nancy asked:
Hello. My employeer (college) will reimburse my moving expenses up to 2,500. I would like to save money, so instead of hiring a company to pack and to load my things, I can do it myself. Will I be able to claim the money if I will not hire a company, but will move out myself? I can provide them with estimates from other moving companies. I do not want to look cheap, but earning 2,500 would be fantastic. Thank you for your replies.
Alecia Lane
Hello. My employeer (college) will reimburse my moving expenses up to 2,500. I would like to save money, so instead of hiring a company to pack and to load my things, I can do it myself. Will I be able to claim the money if I will not hire a company, but will move out myself? I can provide them with estimates from other moving companies. I do not want to look cheap, but earning 2,500 would be fantastic. Thank you for your replies.
Alecia Lane
techgearhead asked:
A deeded house in Dade County, FL with five owners (siblings) is in disrepair. One of the owners is paying for repairs out of pocket and keeping receipts. None of the other owners are contributing. Is it possible to recover expenses if the house is sold afterwards?
Lowell Olivid
A deeded house in Dade County, FL with five owners (siblings) is in disrepair. One of the owners is paying for repairs out of pocket and keeping receipts. None of the other owners are contributing. Is it possible to recover expenses if the house is sold afterwards?
Lowell Olivid
Cleoppa asked:
I just found out I can get tax exemptions for moving expenses. Which expenses are exemptable? Do I just need to keep the receipts?
Hector Scordino
I just found out I can get tax exemptions for moving expenses. Which expenses are exemptable? Do I just need to keep the receipts?
Hector Scordino
VirtueOfIntolerance asked:
My old residence was 25 miles from work, My new residence is 10 miles from work. Does this mean the expenses are not deductible?
Also, do I have to have receipts for everything? (gas..etc)
I work for a nonprofit organization if that makes any difference.
Samuel Wessinger
My old residence was 25 miles from work, My new residence is 10 miles from work. Does this mean the expenses are not deductible?
Also, do I have to have receipts for everything? (gas..etc)
I work for a nonprofit organization if that makes any difference.
Samuel Wessinger