Don’t Lose That Receipt. I know you need it now!
Admit it: it is an annoyance to keep receipts for everyday expenses.
Admit it: must of us use the car’s dashboard or cup holders as filing cabinets to pile up all types of receipts.(I have proof!)
- How important is it to keep your receipts?
- Does it apply to you or is this a business thing only?
- Should you keep the receipts from your Cat’s food, toys and favorite outfits collection?
These are all valid questions.
Tax law prevents you from reporting personal expenses (unfortunate for your pets).
However, if you are a business, then keeping track of all your expenses has become very important (and yes it can help you if you are a veterinarian/cat business).
I Admit It: keeping you receipts for personal expenses – does not have advantages, benefit, or tax credits.
I Admit It: keeping you receipts (in order) will help you file your business tax without additional accounting expenses.
I Admit It: I promise to keep you informed when tax laws change in your favor (fingers crossed -for your pets).
Cheers,
Jonie
P.S
Tax season is almost over. April 15 2019 is the last day to report your income. Create a plan, take action, shape your future