Double Yellow's Company Driver to Independent Thread

Shouldn't be that bad now that it is organized into piles:1099s, office expenses/statements, travel expenses, BOLs, tolls, lumper receipts, rental statements, plates/permits, logs, scales, maintenance/repair, fuel receipts, brokerage statements, & charitable contributions.

Old, cheap bourbon: http://theliquorcollection.com/single.php?id=3731

 

This is why I pay an accountant 90 bucks a month to receive my receipts and do my taxes at the end of the year

 

Dy, next time you're through Kentucky, pick up a bottle of blanton's. It's a little pricy but well worth it. Especially if you only drink on occassion. The idiot behind the counter probably won't know if they have it, but you can easily recognize it cause it has a race horse on the cork.

 

My accountant didn't deduct apprx $4000 in maintenance stating that my receipts were not an invoice but a 'priced work order' (sometimes you get these at TA/Petro with total dollar amount but the IRS will not accept it evidently) denied by the IRS. This is the first I heard about this in 5 years with this professional accounting firm and wondering how many more thousands I was denied over the years by just sending in receipts and not keeping a tally of it myself. Only reason I caught it because she said $12,000 and I was like hold on I spent about $16,000 for maintenance. Anyway that's my job this weekend is to go through all my receipts and reconcile with what they show.

 

Do any of you not organize thru the year? Get some accordion type folders and label each section for items such as fuel, tolls etc. By twelve and have one for each month. When ya got time , add up the categories in a ledger. Then in January its apiece of cake.

 

I take pics of the receipts, convert to .pdf files and email them to my tax guy. Then I file it on my computer in 12 monthly folders, with subfolders for fuel, maintenance, stuff like that. What I should have done and will have to do now is go through every month and add up all the receipts to confirm what the tax guy says.

 

We do our taxes ourself, never a problem

 

I like this, taking pics of them so you have less clutter to store or as a secondary backup do you still keep the actual receipt?

 

Some people are good at managing money, some are good at creating.

 

Yeah, there's another accountant that needs a BIG OLE PINK slip. Wrong kind of receipt? Nonsense. Just pull out the proof of payment, make a copy, staple it to the receipt, and in the off chance of an audit, produce the receipt and the evidence of payment. If you want to be really sure, write a statement of what, when where, and how, and attach it.