I was talking with a client, an airline pilot, about travel expense record keeping. He uses a great system. Use your iPhone or Smart Phone to input expenses as they happen in your calendar. As soon as the check comes from dinner, he puts the amount and location. At the end of the month his costs are all in one place and its easy to have a clean record for his accountant. This is a simple way to get all the deductions you can while keeping the pain and suffering to a minimum.
Alfonzo says
Thank you accountantcalifornia,
Lovely tips. Keep up the good work. Itsgood to come across other people who share my interest! …
tomsfinances says
I use a smart phone all the time and this never occurred to me. Thanks for the tip. I can even upload my info to my home computer so even if I lose or break my phone I don’t lose all my records. This stuff really adds up.
accountantcalifornia says
At the end of the year you will actually save money getting your taxes prepared. You will be able to hand your tax preparer an easy product to work with. A good CPA will be happy to organize your shoe box of receipts, but it does take time. Sometimes you just feel better know your documents are organized and accessable.