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How to Save Tax Receipts 

LegaLees
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You don't need to keep paper receipts for the IRS. Scanning your receipts to keep an electronic copy is just as good for them and can simplify your recordkeeping. www.llcwizard....
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5 сен 2024

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Комментарии : 49   
@dreamingcode
@dreamingcode 5 лет назад
Timeless advice!!! I have 15 units and struggle so bad with receipts and bookkeeping
@assjulio79
@assjulio79 5 лет назад
Keep in mind this video is from 2014. It’s almost 2020 New versions of this scanner/software deciphers the receipt info/dates/amounts etc for you. Great vid btw
@jkodani
@jkodani 6 лет назад
This video was Innovative and Impressive! I'm glad he's a contractor at your office.
@richtips
@richtips 2 года назад
I'm researching different suggestions before the money comes. I've looked at five videos thus far, and this one just brought some ease to my mind!
@Legaleescorp
@Legaleescorp 2 года назад
Glad it was helpful!
@obritllc1044
@obritllc1044 7 лет назад
Haha... as a young accountant in my late 20s who still looks like a high school student, I cringe at the millennial jokes and age based disclaimers when the older folks speak to or about me. Especially when they think I'm much younger than I am. Watching the intro was hard, but the content was good, lol. Nice videos, Lee.
@AndreAndFriends
@AndreAndFriends 6 лет назад
Get a hair dey. Get some gray hair. It realy works. You're welcome.
@haleakalahandyman7414
@haleakalahandyman7414 5 лет назад
stop being so soft.
@HoloScope
@HoloScope 4 года назад
Softo
@mcasas13
@mcasas13 Год назад
Thank you so much as a new business owner I was really having a hard time trying to figure this one out.
@Legaleescorp
@Legaleescorp Год назад
Glad it helped!
@jmdf7274
@jmdf7274 9 лет назад
A better solution would be to abolish the IRS . Flat tax !
@Legaleescorp
@Legaleescorp 9 лет назад
Unfortunately, the IRS is something we have to live with for now. Might as well know how to best deal with them so you can protect your money as much as possible. That's what we teach about on our website and in our products, such as this one: www.legalees.com/advancedtaxtactics/
@bennybodash855
@bennybodash855 5 лет назад
JM DF This is coming soon...no more IRS. The bill has been submitted
@lindagiammarino7991
@lindagiammarino7991 8 лет назад
more video's on organizing tax papers. how to prepare, what to save anything organizing tips to prepare for your taxes throughout the year. Business taxes
@Legaleescorp
@Legaleescorp 8 лет назад
+Linda Giammarino Thank you for the feedback. We will work on getting new videos out addressing those topics.
@KiteRebell
@KiteRebell 4 года назад
thank you for the info sir. much obliged!!!
@KT-cj5gx
@KT-cj5gx 9 лет назад
Keep Ben on as a "full timer". Lol
@wrenchman198423
@wrenchman198423 9 лет назад
Thank you. Very informative and helpful. I like having an electronic copy and backup anyway over s fill folder full of receipts. I
@impeccabletorsothe3rd575
@impeccabletorsothe3rd575 8 лет назад
Hi Lee, Thanks for all the great info you have been putting out. This video makes me wonder though. If you can scan receipts, is it safe to assume you can take pictures of receipts with a phone or camera?
@Legaleescorp
@Legaleescorp 8 лет назад
It should be fine as long as you save and file them so they can be easily found later.
@craigwhite2376
@craigwhite2376 6 лет назад
Richard Olton n
@richtips
@richtips 2 года назад
After looking at this, and realizing that it was shot in 2014, I knew the new way would be to take a picture with cell phone camera. This video just made me decide that at the end of every evening, I will take a picture of all the receipts that I gather per day.
@beardgangtabernacle5795
@beardgangtabernacle5795 Год назад
thanks great advice
@John-zh6ld
@John-zh6ld 6 лет назад
Absolutely fantastic idea!
@bennybodash855
@bennybodash855 5 лет назад
Great video, thanks!
@sandrahuerta318
@sandrahuerta318 3 года назад
Can anyone tell which app is good now for receipts? I am new to this :)
@jonathancagnacci6559
@jonathancagnacci6559 7 лет назад
Thank you man
@crystaljaamaa7111
@crystaljaamaa7111 Год назад
Bank statement shows what day and how much we spent. For example for gas, does IRS consider it's proof or I have to save my receipt ?
@crystaljaamaa7111
@crystaljaamaa7111 Год назад
Found my answer.
@janchilders480
@janchilders480 7 лет назад
At appx the 3:00 time: where do you save the receipt? Can I save directly to a folder In Google Drive? How does it show up in QuickBooks - in order to reconcile/pay a credit card statement? Thank you in advance for your reply.
@yeseniasplace
@yeseniasplace 7 лет назад
very helpful
@tinabaglien258
@tinabaglien258 3 года назад
How do you separate a Costco receipt if it was all for rentals, but you also bought vitamins on the same receipt?
@Legaleescorp
@Legaleescorp 3 года назад
Break out the vitamin portion as personal. Don’t do it again.
@vaiciciaku
@vaiciciaku 2 месяца назад
He did not speak about the backups. We all know how that ends.
@mdrouf2271
@mdrouf2271 6 лет назад
Can i use bank statement instead of receipt
@Legaleescorp
@Legaleescorp 6 лет назад
No, bank statements only support part of the substantiation requirement. They prove that the amount was paid but they do not prove what was purchased. For expenses you must prove to the IRS: 1. The amount was paid 2. What was purchased
@briankcarroll
@briankcarroll 6 лет назад
What if I'm expensing a meal and the bank or credit card statement shows $10 spent at Chick Fil A? Can the assumption be made that I purchased a meal?
@thisisdebbiechukwu9379
@thisisdebbiechukwu9379 5 лет назад
yes!
@joe_zupko
@joe_zupko 3 года назад
Physical receipts are evil. I've got some that have faded within a month...
@benotafreud
@benotafreud 5 лет назад
What if ur digital copy crashes?
@Legaleescorp
@Legaleescorp 5 лет назад
You need to back up your digital stuff.
@franka6680
@franka6680 2 года назад
Ima keep my receipts in a folder like pikemon cards so when the IRS wants to audit me, pop the folder of my poke receipts
@eri7-11
@eri7-11 2 года назад
Damn in Japan they want paper receipts still and have to keep my receipts for seven years
@Legaleescorp
@Legaleescorp 2 года назад
Gee you make the IRS sound good, and that’s hard to do.
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