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

xendoo

For example, if your deductions include certain expenses like entertainment, you can’t claim the Cohan rule. The Cohan rule has helped many small business owners prove their business expenses when they’re missing receipts. However, the IRS can reject your deductions even if you follow the Cohan rule.

audit 52
article thumbnail

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

xendoo

For example, if your deductions include certain expenses like entertainment, you can’t claim the Cohan rule. The Cohan rule has helped many small business owners prove their business expenses when they’re missing receipts. However, the IRS can reject your deductions even if you follow the Cohan rule.

audit 52