How to Save Tax Receipts

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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[@dreamingcode]

Timeless advice!!! I have 15 units and struggle so bad with receipts and bookkeeping

[@assjulio79]

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

[@askdrmindset]

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]

Glad it was helpful!

[@jkodani]

This video was Innovative and Impressive! I'm glad he's a contractor at your office.

[@mcasas13]

Thank you so much as a new business owner I was really having a hard time trying to figure this one out.

[@Legaleescorp]

Glad it helped!

[@obritllc1044]

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]

Get a hair dey. Get some gray hair. It realy works. You're welcome.

[@haleakalahandyman7414]

stop being so soft.

[@HoloScope]

Softo

[@lindagiammarino7991]

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]

+Linda Giammarino Thank you for the feedback. We will work on getting new videos out addressing those topics.

[@jmdf7274]

A better solution would be to abolish the IRS .
Flat tax !

[@Legaleescorp]

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]

JM DF This is coming soon...no more IRS. The bill has been submitted

[@wrenchman198423]

Thank you. Very informative and helpful. I like having an electronic copy and backup anyway over s fill folder full of receipts. I

[@impeccabletorsothe3rd575]

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]

It should be fine as long as you save and file them so they can be easily found later.

[@craigwhite2376]

Richard Olton n

[@askdrmindset]

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.

[@KiteRebell]

thank you for the info sir. much obliged!!!

[@KT-cj5gx]

Keep Ben on as a "full timer". Lol

[@sandrahuerta318]

Can anyone tell which app is good now for receipts? I am new to this :)

[@beardgangtabernacle5795]

thanks great advice

[@janchilders480]

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.

[@John-zh6ld]

Absolutely fantastic idea!

[@crystaljaamaa7111]

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]

Found my answer.

[@tinabaglien258]

How do you separate a Costco receipt if it was all for rentals, but you also bought vitamins on the same receipt?

[@Legaleescorp]

Break out the vitamin portion as personal. Don’t do it again.

[@bennybodash855]

Great video, thanks!

[@mdrouf2271]

Can i use bank statement instead of receipt

[@Legaleescorp]

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]

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]

yes!

[@jonathancagnacci6559]

Thank you man

[@vaiciciaku]

He did not speak about the backups. We all know how that ends.

[@yeseniasplace]

very helpful

[@franka6680]

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]

Damn in Japan they want paper receipts still and have to keep my receipts for seven years

[@Legaleescorp]

Gee you make the IRS sound good, and that’s hard to do.

[@joezupko]

Physical receipts are evil.
I've got some that have faded within a month...

[@thecatholiccouchpodcast]

What if ur digital copy crashes?

[@Legaleescorp]

You need to back up your digital stuff.