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| FREE NEWS ALERTS A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.
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Thursday, Aug. 24 Expenses – Recordkeeping and Deductions, #103Summary Tax law requires certain expenses and deductions to be supported by evidence or else they will not be recognized for tax purposes. With the proper forms (e.g., diaries, logs, etc.) and a recordkeeping habit, you can preserve your deductions. Commentary The following types of expenses must be substantiated by adequate records or by sufficient oral or written evidence... Subscribers have free access to the archives. Click here. |
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