Tax Question about receipts

[Pony]

I am trying to work on taxes today :rolleyes: .

DH is an artist and purchases many supplies for his work. This year we decided to keep hold of all the receipts :eek:, since this is his "business" now. He is good about keeping them, but some of them never made it to me. He pays for everything on a credit card. I have ALL the credit card statements with the supply purchases. So, for the few receipts I do not have, can I claim the supply expense if all the proof I have is a credit card statement? Luckily, it is not that many, but just wondering. Hopefully, I explained this well enough!

THANKS,
michelle

[jem927]

Hi Michelle!

Yes, you can definitely use the credit card statements for backup for the expenses.

Alot of my personal clients with side businesses use a designated credit card for all of their purchases related to the business during the year. And typically, the card company will send them a summary statement at year end that I use for their taxes.

Let me know if you have any other questions.

Jamie

[Pony]

Thanks Jamie!

Michelle