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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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Old 04-04-2010, 07:38 AM
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Default Claiming Purchase Without Receipt?

Can you claim a purchase on taxes without a receipt? I made a large purchase for outside and I thought I set my receipt aside but it's not in my recipts and have no idea where it is. Can I still claim it or do I have to wash this one? I'm so upset because it was a $300 purchase that I can claim a % of.
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Old 04-04-2010, 08:23 AM
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I'm not sure, do you have a credit card statement or a checking statement?

I'm wondering about some purchases that I made in 2009 for my daycare that didn't open until 2010.

Good Luck!
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Old 04-04-2010, 03:43 PM
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Without a rcpt, credit card statement, or a canceled check, this deduction will not survive an audit.

The odds of getting audited? Less than one in 130 filed returns get audited.

http://moneycentral.msn.com/content/...dit/P33948.asp

http://articles.moneycentral.msn.com...rMistakes.aspx
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Old 04-04-2010, 05:50 PM
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The IRS website has some helpful information on what do when you are missing records.

http://www.irs.gov/publications/p463/ch05.html
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Old 04-04-2010, 07:35 PM
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There are some CL purchases I made with cash and have no receipt and my accountant said that was fine as long as I write down what it was and what I paid for it along with the date.

Now though I do try to see if I can get some sort of receipt from the seller.
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Old 04-04-2010, 07:48 PM
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I have duplicate checks that I use for receipts. I also save my bank statements for debit transactions in case I misplace a receipt. Can you contact the person and ask for another receipt, or if bought in the store I wonder if they could give you a duplicate receipt?
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Old 04-04-2010, 09:08 PM
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I did use my debit card, which will show on my bank statement..it was purchased at Walmart...it will show Walmart on my bank statement and the amount, but it won't show what item it was.
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Old 04-04-2010, 10:15 PM
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Quote:
Originally Posted by My4SunshineGirlsNY View Post
I did use my debit card, which will show on my bank statement..it was purchased at Walmart...it will show Walmart on my bank statement and the amount, but it won't show what item it was.
It doesn't matter as long as you have proof that you purchased at Wal Mart on your bank statement. All you do take a picture the price tag at Wal Mart or Wal Mart online to print it out. Hope it helps.
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Old 04-05-2010, 05:41 AM
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It doesn't matter as long as you have proof that you purchased at Wal Mart on your bank statement. All you do take a picture the price tag at Wal Mart or Wal Mart online to print it out. Hope it helps.

thanks..I didn't know this would work...I'm new to this so thanks for all the great info.
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Old 04-05-2010, 10:50 AM
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Does anyone know if it's OK to scan receipts and save them to the computer. If so, does it have to be front and back.
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Old 04-05-2010, 02:00 PM
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Quote:
Originally Posted by emosks View Post
There are some CL purchases I made with cash and have no receipt and my accountant said that was fine as long as I write down what it was and what I paid for it along with the date.

Now though I do try to see if I can get some sort of receipt from the seller.
I always print off the ad (with the pic and the price listed) and then write my directions/address/contact number on the bottom.

The IRS can question that all they want, but here's a pic, here's the ad, and lookee there, that very same item is sitting in the front yard!
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Old 04-05-2010, 02:02 PM
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Does anyone know if it's OK to scan receipts and save them to the computer. If so, does it have to be front and back.
Yes, you can use scanned receipts and documents as proof of purchase...many large corporations do this to reduce paper piling up.

If there is purchase info on the back of the slip, front and rear would be advisable. Be sure to back up all your data, and for good measure have a 2nd disc on file somewhere off-site just in case (safety deposit box is my favorite).
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Old 04-05-2010, 06:59 PM
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That is a GREAT idea about printing the ad off!! Thanks!
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Old 04-05-2010, 11:26 PM
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That is a GREAT idea about printing the ad off!! Thanks!
I started doing that after a bait-and-switch attempt by a seller....in the pics, the item (motorcycle) was pristine. In person, it was obvious the pics were either from long ago, or a completely different machine.

It all started as a "Well, where is the item in the pic, cuz this sure ain't it" thing, but I started saving the ads for records after that.
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Old 04-06-2010, 09:21 AM
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Quote:
Originally Posted by My4SunshineGirlsNY View Post
I did use my debit card, which will show on my bank statement..it was purchased at Walmart...it will show Walmart on my bank statement and the amount, but it won't show what item it was.
Yes it should work but in the case that in the off chance you do get audited they may give you grief over it. If you want to completely be sure that you won't get any hassles just call Wal-mart and have them send you a copy of the original. Usually if it's been 30-90 days you can contact the store and they should be able to print a new one for you. Sometimes stores don't print copies on receipt paper but the only difference will be that it will be printed on computer paper. Anything over 90 days the store doesn't usually keep archived so calling their 1-800 customer service number and asking them for one should be the way to go. Every store is different and I can't remember exactly how Wal-Mart works (I had to have a re-print once) but I would always call the store first. Lowe's says that anything over 90 days is not archived but I worked there and sometimes I used to be able to find receipts from almost 1 year before so just ask.

You have your debit info and usually all you need to find a receipt is the date of purchase, the amount and the last name on the card. It may take a few days for a corporate office to find it but don't let them tell you it's impossible unless it's been more than 3 years, especially when you have all of the purchase information. Just food for thought.

Quote:
Originally Posted by Unregistered View Post
Does anyone know if it's OK to scan receipts and save them to the computer. If so, does it have to be front and back.
Yes this counts but I agree to make back-ups of your archives just in case anything happens. I scan and print my receipts onto computer paper because I live in the land of the rolling blackouts (CA) and many a computer has been fried due to this and power surges. Also scanning your receipts will prevent the "case of the dissapearing ink". Losts of store are now using thermal paper and the ink always fades and dissapears and then you go do your taxes and then "ohmygosh" what happened to the ink (I've had that happen before Ugh). It takes time but it's better to be safe than sorry.
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