Comments on: WHAT DOES THE IRS WANT TO SEE FOR AN ONLINE BUSINESS? http://setupbiz.com/blog/what-does-the-irs-want-to-see-for-an-online-business/ Business eBook, Entrepreneur Community, and Online Forums! Thu, 09 Sep 2010 08:28:48 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: AK http://setupbiz.com/blog/what-does-the-irs-want-to-see-for-an-online-business/comment-page-1/#comment-825 AK Fri, 18 Dec 2009 21:36:44 +0000 http://setupbiz.com/blog/what-does-the-irs-want-to-see-for-an-online-business/#comment-825 Your business' full set of accounting records, especially invoices, bank account statements, canceled checks... etc. Also, if the tax return was prepared by a preparer, contact your paid preparer in case you need help on explaining a particular treatment on the tax return. Your business’ full set of accounting records, especially invoices, bank account statements, canceled checks… etc.

Also, if the tax return was prepared by a preparer, contact your paid preparer in case you need help on explaining a particular treatment on the tax return.

]]> By: bostonianinmo http://setupbiz.com/blog/what-does-the-irs-want-to-see-for-an-online-business/comment-page-1/#comment-824 bostonianinmo Fri, 18 Dec 2009 01:43:01 +0000 http://setupbiz.com/blog/what-does-the-irs-want-to-see-for-an-online-business/#comment-824 They'll want to see ALL of your business records. Proof of income claimed and proof of all business expenses. The law requires you to keep accurate, timely, and complete business records of all income and expenses claimed. If you're claiming any personal deductions or credits -- especailly the EIC -- they'll want to see proof of eligibility for those as well. They’ll want to see ALL of your business records. Proof of income claimed and proof of all business expenses. The law requires you to keep accurate, timely, and complete business records of all income and expenses claimed.

If you’re claiming any personal deductions or credits — especailly the EIC — they’ll want to see proof of eligibility for those as well.

]]> By: v b http://setupbiz.com/blog/what-does-the-irs-want-to-see-for-an-online-business/comment-page-1/#comment-823 v b Wed, 16 Dec 2009 16:19:06 +0000 http://setupbiz.com/blog/what-does-the-irs-want-to-see-for-an-online-business/#comment-823 Proof of income. How do you get paid? Credit cards? Paypal? Make sure you keep the records. Just as important, proof of expenses. If you are claiming mileage to the post office, you'd better keep a written log of when, where, how far. Proof of income.

How do you get paid? Credit cards? Paypal? Make sure you keep the records.

Just as important, proof of expenses. If you are claiming mileage to the post office, you’d better keep a written log of when, where, how far.

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