Are credit card statements sufficient to prove expenses to the IRS for small business?

Answered by:

Sean Orwin

Tiger Tax & Business Development
10 Questions answered
Answered on March 22nd, 2018

Not by themselves, unless as others have pointed out, the statements describe what was purchased. That's why it is a good idea to keep receipts so that you have an itemized record of what was purchased. I also like using an app to keep a digital copy of receipts that gets uploaded into the accounting software. No one likes going through a box of receipts to find something. An app makes it an easy process.


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