I Don’t Have A Receipt For My Expense
Posted by admin on Jul 28, 2008
Far too many small businesses fail to write off enough of their business deductions because they do not have a receipt for it. For example, in the course of your day, you may have paid for a bus ride across town to meet with a potential client. Then, you went to a seminar or trade show regarding your business and you may even have had a cup of coffee at your office shop. Each of these costs is deductible even if you do not have a receipt.
When you make purchases that do not require a receipt to be handed to you, do one of two things. First, ask for a receipt whenever possible. When this is not possible, use your planner or date book to make simple notes in it, telling the date, location, amount and reason for the purchase. This can serve as your receipt for your business expenses.