Saving Those Receipts For Tax-Time:

Now this is a good thread. One I hope we all can learn something from one another.
I was told by a tax "expert" that your credit card statements from the bank are considered an official tax document as far as showing fuel, repairs, tool purchases, etc..( I'm not yet sure if this is true as I haven't tried it yet, but I was considering using them this year).

Also the same with the cell phone and internet payments. As for the mileage driven I've been told to just write it down on a calendar daily and this also will pass as an official document. Again I'm not sure if this is true just what I've been told. If anyone knows for sure please feel free to comment on this.



As for the 1099 the scrap yard is supposed to report those earnings to the feds. and it is our own responsibility to pay our taxes (if owed) on the money. I for one am looking forward to the 1099 coming in this year. I think when it does a whole lot of the tweaker types will be surprised. And hopefully slow them down next year. But then again if they don't file on this money it will be up to the IRS to go after them. Are they really gonna take the time and expenses to go after each and every one of them? Doubt it.