Tag Archives | is my credit card statement allowed in tax audits

Don’t Miss Out on Tax Credits for Children in College

If you’re a parent, you’ve probably been worrying about how you’re going to pay for college tuition from the date of conception. And you’re not alone—college tuition, even for state schools, has skyrocketed over the last few years. Even if your college-aged child is able to get a job to help with costs, you’ll definitely […]

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Why Do You Have to Keep Your Receipts?

This is a question I get asked all the time: Why do I have to keep all these receipts? There’s one main reason: If you want to deduct it, you need proof. In the event that you’re audited, the IRS requires full documentation. Most people don’t understand that, when under audit, one of the rules […]

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