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Business & farm
besides keeping good records make sure to retain the actual documents for 6 years. while audits are rare these days if it happens to you an IRS auditor might look at a QB report and then want to see the invoice/bill/receipt behind the expense. no invoice/bill/receipt and the auditor can disallow the dedcution. also using a bank a/c that's only for your business is a good idea.
‎July 12, 2021
5:31 PM