Article Date:
November 2009
Word Count:
446
How the No-Receipt-Under-$75 Tax Rule Works
I have been listening to the CDs from your tax course. In the CDs, you say that I need receipts for entertainment and out-of-town meals that cost $75 or more. I thought that I needed no receipts for anything under $75. Am I wrong? (C.T., Nevada, Iowa) Totally wrong! You need receipts for all expenses, regardless of amount, except expenditures that are less than $75 for1 ·
entertainment,
·
overnight travel, and
·
listed property.
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