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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 04-14-2011, 06:47 PM
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tymaboy tymaboy is offline
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Default Claiming Deductions & No Receipt

Just wondering the the average amount is that we can claim without having a receipt. I ask cuz we do not have receipts for dish soap, tp, laundry detergent type of stuff. Dh does not want to claim anything that we do not have receipts for Incase we get audited.
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Old 04-15-2011, 01:04 PM
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Default receipts

Tax law says you must have an adequate record to claim deductions. A receipt is one type of adequate record, but not the only one. If you don't have a receipt then maybe you have a cancelled check, credit/debit card statement, etc. If you have none of these then I would estimate expenses for the items you mention. Then I would start saving receipts for them in 2011. If you get audited you may have your deductions denied. You can argue that you certainly spent something on these items and if your estimate is reasonable you may win.
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