Category Archives: tax record keeping

Does The IRS Require Receipts?

I regularly receive email from sincere folks who ask questions like this: “Is it true? If I don’t have good records, will I really pay more tax than I could/would/should have?” Or how about this one: “If I don’t have … Continue reading

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Small Business Tax Questions: Do You Really Have To Keep Receipts?

Do you ever wonder whether it’s really necessary to keep receipts to document your small business or self-employed tax deductions? Does the IRS expect you to maintain detailed records as proof of business expenses? The answer to that question is … Continue reading

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Small Business Tax Questions – What Bookkeeping Software Should You Use?

Any small business needs a good bookkeeping system. Without it, you’ll never know how the business is doing and whether it is profitable. Without it, you’ll have big problems at tax time because you won’t have accurate information to report … Continue reading

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How to Get Organized, Audit-Proof Your Return and Save Thousands

In last week’s post, I informed you that the IRS has increased the vehicle mileage rate to 55.5 cents/per mile (effective July 1, 2011).  Yee Haa! http://selfemployedtaxdeductionstoday.com/irs-mileage-rate-increase-save-money/ And I also reminded you that the best way to audit-proof your vehicle … Continue reading

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More Good News About the Per Diem Method

The last couple weeks I’ve been telling you how to keep receipts in order to document deductible business expenses. Here’s an email I received recently on this topic: Hi Wayne, I have really been enjoying your various articles and blogs.  … Continue reading

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How To Deduct Expenses Without Keeping Receipts

The mantra of tax record keeping has remained relentlessly burdensome for decades: “No Receipt, No Deduction”. But fear not, you who loathe the never-ending climb up the mountain of paperwork required by the U.S. tax code. Many of our most … Continue reading

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Christmas Gift Ideas That Will Slash Your Taxes

How’s the Christmas shopping going? Have you bought anything for yourself yet? Here’s a few gift ideas that won’t cost you a dime, because you’ll save so much money by reading these books and implementing their advice, you’ll get back … Continue reading

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How To Drive The IRS Crazy

The IRS just announced the mileage rates for 2011: — 51 cents per mile for business miles driven — 19 cents per mile driven for medical or moving purposes — 14 cents per mile driven in service of charitable organizations … Continue reading

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How To End All Your Record Keeping Frustrations

Looking for an easy way to both get organized and save a bundle on your tax bill this year? Check out the “Tax MiniMiser” –https://tdpi.infusionsoft.com/go/home/wmdctp/ Here’s what The Experts say…. “For years I’ve been telling all my tax clients and … Continue reading

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