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How to keep good records for the IRS

How to keep good records for the IRS

by Enrolled Agent at BossTax | Jan 29, 2023 | Financial Planning, Tax Blog, Tracking Tips

The IRS requires good recordkeeping for any deductions you claim on your tax return.  No estimates or approximated values may be used – only actual records.  If you’re in business for yourself, that means you need to make a record of your income and tax deductible...
How to Report Self-Employed Business Income and Expenses

How to Report Self-Employed Business Income and Expenses

by BossTax Admin | Jan 24, 2023 | Financial Planning, Tax Blog, Tracking Tips

Reporting your solo business at tax time   If you are in business for yourself, you typically use the Schedule C to report your business income and expenses.  The Schedule C is included in your personal income taxes, which are filed on the IRS Form 1040.  You can...
  • Demystifying entertainment and party deductions
    by Enrolled Agent at BossTax
    January 29, 2023
    Wait a sec. I can't deduct entertainment anymore? What if that's my whole business?
  • How to keep good records for the IRS
    by Enrolled Agent at BossTax
    January 29, 2023
    But I'm not an accountant! What counts as "good recordkeeping" for the IRS? Read on to find out what's required.
  • Bilingual Tax Specialist (Spanish / English)
    by BossTax Admin
    January 29, 2023
  • How Much Should I Deduct?
    by Enrolled Agent at BossTax
    January 28, 2023
    How much should I deduct? Can I avoid all taxes by showing a business loss? Yes - but beware the IRS hobby rule. And of course, you could always be audited, so it's best to stick to the facts.
  • What to do if Your Records are Incomplete
    by Tax Preparer
    January 27, 2023
    Help! It’s almost tax filing time, and your records are, well, incomplete. What if you forgot to save your info? Don’t worry, you’re not totally out of luck.  Read on to find out how to save yourself on tax day.

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680 E. Main St. #766
Stamford, CT 06901

(203) 539-1238

Product

Tracking
Mileage
Tax Filing
Banking
Credit

Resources

Tracking Tips
Tax Blog
Planning
Building Credit

Policies

Privacy Policy
Terms of Use
Cookies

Company

About
Careers
Support
Contact

iOS

Download

Android

Download

Copyright © 2022 mLogg Inc

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