Do you save all of your receipts?

Discussion in 'Starting a Lawn Care Business' started by JJG84, Jun 15, 2007.

  1. JJG84

    JJG84 LawnSite Member
    from OH-IO
    Posts: 97

    I have a small company, (not licensed yet) and I have found myself keeping all of my receipts - gas, food, repairs; etc.

    What are the possible benefits of saving these receipts?

    Do you save all of your receipts?
     
  2. M&SLawnCare

    M&SLawnCare LawnSite Senior Member
    Posts: 304

    Whatever you plan to wright off of course you need the receipt for. If I don't plan to wright it off and its not a major purchase then i just chuck them.
     
  3. MJS

    MJS LawnSite Bronze Member
    Posts: 1,316

    I save all reciepts for at least six months. Don't know why, I guess.
     
  4. Bigray

    Bigray LawnSite Member
    Posts: 140

    i save all the receipts i find in my pocket also, plus i have a corp. c/c that lists all my purchases also.
    if you are going to claim your income you will want receipts to verify your puchases also.
    if you go legit you can deprediate equip,truck, write off ins. ,fuel,etc. etc.
     
  5. DuraCutter

    DuraCutter LawnSite Senior Member
    Posts: 806

    Humm.... I wonder. Yeah, save them for tax reasons!!!!!!!!!!!!!!!!!!!
    :dizzy: :hammerhead: :confused: :confused: :laugh: :laugh:
     
  6. capelawncare.com

    capelawncare.com LawnSite Fanatic
    Posts: 8,136

    yea your accountant will love you!
     
  7. DuraCutter

    DuraCutter LawnSite Senior Member
    Posts: 806

    Hey, I like the equipment!!

    :laugh:
     
  8. Grits

    Grits LawnSite Silver Member
    from Florida
    Posts: 2,994

    i save all receipts and record everything in Quickbooks for my accountant.
     
  9. LushGreenLawn

    LushGreenLawn LawnSite Silver Member
    Posts: 2,121

    You will need those reciepts if you get audited. I assume you are planning on getting a business licence BEFORE you start working in the field.
     
  10. JJG84

    JJG84 LawnSite Member
    from OH-IO
    Posts: 97

    ok, but my question is this....

    do i need to actually be licensed now for the receipts to be valuable?

    or can i save them until i get my bus license and THEN use them?
     

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