So I have been working on keeping better records for my tax preparer for the 2016 tax season, and I am wondering on how everyone does their receipts? The Excel spreadsheet I have been using has spaced for the number of meals served monthly, broken down into breakfast, lunch, and snack. Because I am not on the food program, I can use the standard meal deduction rate, correct? Since all food is shared in my home, and the cost comes from my business checking account, should I be saving my grocery receipts?
The Excel spreadsheet also has places to input shared household and cleaning supply costs. Say I have a receipt from Walmart, where I not only bought household products and cleaning products, but also food, Do I apply the T/S% to this in my Quickbooks? I have read that the T/S% can not be applied to food?
This is why I have a tax preparer, but she is struggling with my taxes this year, so next year I will be using the same tax preparer that my SO uses. Man, taxes are so hard!
The Excel spreadsheet also has places to input shared household and cleaning supply costs. Say I have a receipt from Walmart, where I not only bought household products and cleaning products, but also food, Do I apply the T/S% to this in my Quickbooks? I have read that the T/S% can not be applied to food?
This is why I have a tax preparer, but she is struggling with my taxes this year, so next year I will be using the same tax preparer that my SO uses. Man, taxes are so hard!
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