Quote:
Originally Posted by oceangaia
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.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Is this, like a joke.. or what? 
