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Don't Forget Gross Receipts Proof

Supporting documents are the evidence for every entry in your books. Without proof of gross receipts (income), your tax return is vulnerable. The either/or dilemma is often between a chaotic scramble for income documents and a systematic, organized process.

Your Gross Receipts are all the income you receive. Supporting documents include cash register tapes, bank deposit slips, invoices, credit card charge slips, and Forms 1099-MISC or 1099-NEC that you receive. It's crucial to keep them organized by year and type of income or expense. This Simple approach ensures your records are organized and complete.

Ready to build your bulletproof business recordkeeping system? Read more on this topic by visiting https://www.safesimplesound.com/build-your-business-recordkeeping-system/.

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DISCLAIMER: This content is for educational purposes only and should not be considered personalized financial advice. Always consult with a qualified financial professional before making financial decisions.

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