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HPC Blog

Timothy Cofrin

Tim is a Tax Accountant who specializes in client organization around tax matters and helps companies gain and maintain government compliance with business registrations, sales taxes, income and other tax returns, and other miscellaneous documents.

Recent Posts

How to Prepare for the New Sales Tax and Nexus Requirements

How does the June 21, 2018 Supreme Court ruling of Wayfair v South Dakota impact sales tax nexus for e-commerce business owners?

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Do you need a receipt for all deductions?

By Timothy Cofrin • July 6, 2018 at 8:34 AM • Tax and Compliance

In addition to proof of payment, the IRS generally requires that you keep documentary evidence, such as receipts, canceled checks, or bills, to support your expenses. That's a lot of paper! Fortunately, there are some exceptions.

For travel, entertainment, gifts, or transportation expenses, the IRS guidelines state that documentary evidence is not needed if either of the following conditions apply:

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