It could be to provide proof of certain business and entertainment expenses, but not for other expenses like charitable donations, for example. In those cases you need a receipt from the charitable institution.
No. One needs actual receipts to show what was purchased. A gas station sells lot more than one item. So the question would be what did you buy; gasoline or condoms.
You must retain all statements, including all sales and purchase invoices, payment receipts (checking or credit, cash payments) bank and credit card statements.
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Answers (31-40)
Yes
Ye
Yes - credit card statements should should sufficient for proving expenses.
Generally not. You need the details of the transactions to show exactly what the charge is for.
Hello Michael, I am not a specialist on US taxes, for Canada Revenue Agency, CC statements are not sufficient.
Hello,
It could be to provide proof of certain business and entertainment expenses, but not for other expenses like charitable donations, for example. In those cases you need a receipt from the charitable institution.
Hope this helps,
Jaime Salamanca
No it is not, due to it does not show line items and sales tax. You need to attached the actual receipts you get from the store.
No. One needs actual receipts to show what was purchased. A gas station sells lot more than one item. So the question would be what did you buy; gasoline or condoms.
Yes lately auditors have been taking credit card statements as proof
You must retain all statements, including all sales and purchase invoices, payment receipts (checking or credit, cash payments) bank and credit card statements.