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Do you save all cash receipts?
10/28/09 1:58 PM, Viewed by asker 11/2/09 7:40 AM
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Total Views: 63
Do you save all cash receipts?
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Answer
10/30/09 2:53 PM
If you are ever audited, you will need all receipts to substantiate your expenses. If you are unable to provide proof, the IRS will disallow the deduction and you will owe back taxes plus interest and penalties.
Marc Barnes
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