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| | The Business Finance,Taxes and Business Operations Network is not currently active and cannot accept new posts | | Receipts - Tip of the Week | Views: 1089 | | Jun 19, 2007 8:22 pm | | Receipts - Tip of the Week | # | 
Suzette Flemming | | Hello, Everyone ~
As I'm organizing and entering data for a client's tax return I notice that several receipts are missing some very important information. The IRS gets a bit picky about documentation. Before you turn over your receipts to your account or store them with your tax return take a look at them and make sure they . . .
* Have a clear date stamp
* Have a clear total (especially if the receipt contains items that aren't a business expense)
* Have the vendor name clearly stated
* Have a reason and people attending for the expense if it is a meal or meeting expense
Many receipts fade over time. You may want to write the important information in pen on the back to help preserve it.
A little time now will save lots of time and energy later on.
Suzette
******
www.FlemmingBusinessServices.com
Saving You Money - Increasing Your Bottom Line
Private Reply to Suzette Flemming | | Dec 07, 2007 4:41 pm | | re: Receipts - Tip of the Week | # |
Judy Schwind | | Suzette,
Thanks for the reminder. I try to have all of my clients operate this way, but my business stuff tends to get shoved to the side! Do what I say not what I do! LOL...
Thanks!
Judy Schiwnd
Schwind Bookkeeping Service
www.schwindbookkeeping.com
Private Reply to Judy Schwind | | |
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