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12-14-2007, 11:35 AM | #1 |
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Keeping Receipts
Besides proof of value in case of a sale or perhaps accounting purposes if you run a related business, does anyone else besides me keep receipts for racing related activity? This includes parts, labor, tools and equipment, travel, etc. Which ones should I keep and how long? Any valid tax reasons?
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12-14-2007, 12:13 PM | #2 |
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Re: Keeping Receipts
I keep all my shop & racing receipts for tav purpose in case of audit. Suppose to keep 7 yrs. I think.
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Tim Worner SS 1747 |
12-14-2007, 12:43 PM | #3 |
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Re: Keeping Receipts
Once I pulled my keys out of my pocket. The same pocket I had stuffed the machine shop invoice in to stash away. Out came the invoice. Didn't know it. My wife found it a few minutes later laying on the floor. Her eyes poped out of her head and boy, what a day that was! Come to think of it, it was a lot longer than a day...
Now, I destroy all receipts or in the case of the machine shop, don't even take one!
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Jeff Lee 7494 D/S '70 AMX |
12-14-2007, 02:52 PM | #4 |
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Re: Keeping Receipts
HAHAHAHA!!!
Now that's funny Jeff....well not for you, but funny nonetheless. I bought a tranny and shifter, shifter came from ebay about a week ago. She saw the email about being a winner/price/etc and said "I hope that's your christmas present" Hope she never see's the tranny bill! Lol! |
12-14-2007, 05:25 PM | #5 | |
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Re: Keeping Receipts
Quote:
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Julie Jordan 7549 STK |
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12-14-2007, 06:02 PM | #6 | ||
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Re: Keeping Receipts
Quote:
Quote:
Last edited by Gary Smith; 12-14-2007 at 06:05 PM. |
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12-14-2007, 06:51 PM | #7 |
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Re: Keeping Receipts
Yea, gotta delete those PayPal and ebay emails ASAP!
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Jeff Lee 7494 D/S '70 AMX |
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