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2. These Are the Receipts To Keep for Doing Your Taxes - AOL

   www.aol.com/finance/receipts-keep-doing-taxes...

   So be sure to keep the receipts, business conference flyers, etc. to defend business usage,” said Lee. Keep these expense receipts for taxes: Canceled checks. Cash register tapes. Account statements

3. I'm a Business Owner. What Expenses Can I Write Off on My Taxes?

   www.aol.com/write-off-expenses-businesss-taxes...

   A tax write-off is how businesses account for expenses, losses and liabilities on their taxes. Write-offs are a specialized form of tax deduction. When a business spends money on equipment or ...

4. Internal Revenue Code section 162 (a) - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   The next requirement of section 162(a) is that the taxpayer must be carrying on a trade or business. [2] Start up expenses are not entirely deductible, but must be spread out over 15 years. [10] Because business expenses are fully deductible under section 162, taxpayers try to argue that expenses were not start up expenses.

5. Cash method of accounting - Wikipedia

   en.wikipedia.org/wiki/Cash_method_of_accounting

   There are certain advantages in tax planning when the cash method of accounting is used: for instance, payment of business expenses may be accelerated before year end, in order to maximize tax deductions, whereas billings for services may be postponed to after year end, so that payments won't be received until the new year, thus postponing tax ...

6. Generally Accepted Accounting Principles (United States)

   en.wikipedia.org/wiki/Generally_Accepted...

   Expenses are recognized not when the work is performed, or when a product is produced, but when the work or the product actually makes its contribution to revenue. Only if no connection with revenue can be established may cost be charged as expenses to the current period (e.g., office salaries and other administrative expenses).

7. These Are the Receipts To Keep for Doing Your Taxes - AOL

   www.aol.com/finance/receipts-keep-doing-taxes...

   Gathering and saving receipts and tax documents is an important part of filing taxes and receiving your refund quickly. Whether you take the standard deduction or itemize deductions, most people...