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Old 02-12-2018, 05:46 PM
 
Location: Sonoran Desert, AZ
2,840 posts, read 1,163,727 times
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Quote:
Originally Posted by PamelaIamela View Post
Is this, like a joke.. or what?

I don't even save receipts, much less statements!

Online statements --> online payments.

And in over 25 yrs they've never been wrong.

But then again, I haven't made my bed in 40 years.
lol - I'm with you on this.

Hoot,
MBA, CPA*

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Old 02-13-2018, 08:17 AM
 
3,267 posts, read 2,336,935 times
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Quote:
Originally Posted by oceangaia View Post
So your pencil notations are accepted as proof? Sweet! Why not just make up the receipts when and if they are needed?
That's why the IRS requires statements in a full audit, to provide proof that you paid for that expense.

They don't have a problem with handwritten records as long as they see the proof of payment on a statement from a bank account or credit card.

When I calculate our business travel expenses, I hand write it from the numbers on the statements and total it up, airfare, hotels, car rentals, parking. When we got audited, the auditor went through my sheet, matched it to the payments on the statements and made sure it was what we deducted and never even asked for the folder of travel receipts.

In the initial audit interview, business travel reasons and places were covered, so he knew what to look for.
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