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What happens if you get audited and don’t have receipts?

xendoo

From there, you’ll communicate with your auditor and provide the documents they ask for. For example, if your deductions include certain expenses like entertainment, you can’t claim the Cohan rule. However, there are many records that businesses need to keep, including receipts, financial statements, payroll, and much more.

audit 52
article thumbnail

What happens if you get audited and don’t have receipts?

xendoo

From there, you’ll communicate with your auditor and provide the documents they ask for. For example, if your deductions include certain expenses like entertainment, you can’t claim the Cohan rule. However, there are many records that businesses need to keep, including receipts, financial statements, payroll, and much more.

audit 52