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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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  #1  
Old 01-11-2011, 05:40 AM
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Default Tom: Ok To Store Scanned Receipts/Paperwork?

I recently got a scanner and thought it would be a great way to store all my reciepts and all my paperwork without taking up space and having to deal with so much paper. So is it acceptable to scan and store everything onto my computer instead of hanging on to all this paper? I want to throw all the paper out, and I want to do this with all documents, not only DC related. Any problems with doing this?
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Old 01-11-2011, 05:46 AM
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I thought about this to, I would think you would have to back it up on a disk or something also, because what happens if your computer crashes?
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Old 01-11-2011, 06:15 AM
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yes, I was thinking of putting on disc, or maybe using one of those web based programs where you can store stuff too, or both. I just want to rid myself of paper in my house! I'm OCD about clutter anyway, so it drives me batty!
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Old 01-11-2011, 10:14 AM
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Default Scanners and paper

Scanning receipts into your computer is a good idea to create a permanent record. I wouldn't throw away your paper records, however. I'm nervous that the IRS might challenge computer records as not being adequate. Until I have more experience with this in audits, I wouldn't recommend throwing them away.
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Old 01-11-2011, 11:02 AM
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Default Reciept nightmare

What should you do with reciepts that the ink is fading or hard to read? Should you always write the total amount on the top or what responsibility do we have to make sure the reciepts are readable for eternity? And what about when you buy supplies, toys etc and the description doesnt give you any clue as to what it is? I have just organized all my 2010 reciepts and have found some that include items rung up that I can't tell what they are even for. I always separate business and personal right away (and purchase with a business only cc) so I know the item(s) are business but how could I prove that later?

BTW your training last night was GREAT!
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Old 01-12-2011, 05:39 PM
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Default Scanners/fading receipts

If you scan your receipts then you will be able to read them later if the receipts fade. If you don't scan them, make a copy. I wrote a blog post about this on my blog "The Case of the Fading Receipt"
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Old 01-13-2011, 08:45 AM
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Default Neat scanner

Tom what do you think of the Neat scanner is it worth the money? Thank you for your taking the time to post all your advice!
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Old 01-13-2011, 10:05 AM
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Default Neat receipt

I've seen the neatreceipt scanner but don't own one. I don't know how it compares with other scanners.

Any scanner would be tax deductible!
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Old 01-13-2011, 07:04 PM
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Quote:
Originally Posted by TomCopeland View Post
If you scan your receipts then you will be able to read them later if the receipts fade. If you don't scan them, make a copy. I wrote a blog post about this on my blog "The Case of the Fading Receipt"
Can someone find this blog for me? I tried, but couldn't figure out how to find it.
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Old 01-14-2011, 01:48 PM
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Default Fading Receipt blog post

I just fixed my blog so I can link people to specific blog posts. Here's the one on fading receipts: http://www.tomcopelandblog.com/2010/...g-receipt.html
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Old 01-16-2011, 01:27 PM
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Tom,

I have it on good authority that the cheapest hair spray available in the grocery store will act like artists' fixative to prevent receipts from fading.

Sharon Riley
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Old 01-19-2011, 10:43 AM
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Originally Posted by Sharon.Riley View Post
Tom,

I have it on good authority that the cheapest hair spray available in the grocery store will act like artists' fixative to prevent receipts from fading.

Sharon Riley
OK, Now I'm seriously going to go to Walmart today and find the cheapest hairspray and try it on random receipts that I would otherwise toss out just to see if it works. I'll then file it away. Where did you hear this?
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Old 01-19-2011, 10:41 PM
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OK, SO I did buy a trial size of hairspray (since we don't use it really) and sprayed it on a couple of receipts lightly. It only made it smear and actually made some of the ink "splatter" so the edges of the receipt turned black some. Well, I can say I tried it. Not really impressed as it's more difficult to see now.
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