Originally Posted by yardguy28
EVERYTHING I purchase for my business is paid for by a business credit card. so there is a trail of what was purchased. there are one or 2 things I do use business checks for but it's not like I don't have records of business purchases.
as for writing stuff off I don't believe I do any of that.
I give my accountant 3 numbers each year to do my taxes. my total income, my total expenses and any equipment and there dollar amounts. oh and I give him how many work miles I put on my truck.
that's it. he never sees a list of my actual expenses. the only reason I categorize expenses is for my personal knowledge of how much I'm spending on say fuel or supplies.
I don't think not having every single receipt is going to hurt me in an audit.
There's SO many things wrong in your post it's not even funny.
With that last sentence, you act like Travis Tritt and that song "ten feet tall and bullet proof" comes to mind. You don't run a business.
How can you say "the only reason I categorize expenses is for my personal knowledge" when a accountant NEEDS to know ALL the expenses. You have to be the most eccentric person ever.