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Do I bring my business credit card bills to my accountant when filing for expense deductions?

I had recently opened a new business, but I was not sure how to file for expense deductions for taxes. Do I bring my credit card bills? Or how would I present my expenses to my accountant?
Lets say I hired a graphic designer, but he bills me on paypal.. . how would i get that deducted?

What exactly do I have to bring with me?

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5 Responses to “Do I bring my business credit card bills to my accountant when filing for expense deductions?”

  1. RUSerious said:

    Bring Both.

  2. the tax lady said:

    You also need the invoices. The fact you spent money is not enough to show what it’s for.

  3. efflandt said:

    Credit card records do not provide enough details, since that only shows where you spend money, not what you spent it on. So as mentioned you should have actual invoices or receipts for any business expenses.

    And if you pay anyone over $600 for contract work, you should either get a W-9 from them or deduct default withholding from payment, and file a 1099 for them with the IRS.

  4. StephenWeinstein said:

    You are actually supposed to bring individual receipts for each expense. A credit card statement does not have enough information to determine if the expense is one for which you are allowed a deduction.

  5. health tourism said:

    There’s a whole world to be enjoyed out there, before you depart this mortal coil. Time is precious. Yet people spend it fretting about a data field in iTunes?




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