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Tagged in Referral

Suggestions For Utilizing Facebook To Build Referrals?

Asked by Marcy Schacter from Make Healthy Taste Great

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Has anyone found a great system for automating referrals through a simpleFacebook page

How-To Articles

Tagged in Research

How To Actually Generate Customers On Professional Networks: Part 1

Asked by Julbert Abraham from AGM - LinkedIn Marketing & LinkedIn Training

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If you're wondering if you can get clients from a professional network such as LinkedIn or Alignable (or any... Read Full Answer

Data & Insights

Tagged in Engineering & IT

10 Actually Actionable Benefits Of List Building

Asked by Juan Manuel Colome from Top Response Marketing

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What is List Building all about?

List building refers to a continuous process of adding new and updated subscribers to your list.... Read Full Answer

Local Business Stories

Tagged in Local

Celebrating Small And Locally-owned Businesses With Bill Brunelle of Independent We Stand

Asked by Alan Belniak from Alignable

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Today's special edition of the Local Business Stories by Alignable podcast highlights... Read Full Answer

As a Small Business Owner, Should I Save And Document All My Receipts?

By Esther Kilada · Posted on Monday, June 12, 2017 · Tagged in General Discussion




Catherine Wolfe from SBBS Inc
0 Locals Recommend Them • Answered on Monday, July 31, 2017

Most accounting software programs especially those online will allow you to scan and attach the receipt to the expense. These electronic receipts can be used to satisfy IRS requirements to produce supporting documentation. There are several apps available to assist you as well, check out Expensify.com or ReceiptBank.com for two options that are very inexpensive and provide an excellent method for keeping track of expenses.

Boevi Lawson from Lawson & Associates Consulting
0 Locals Recommend Them • Answered on Friday, June 30, 2017

Yes, all receipts and other supporting documentation for incurred expenses must be saved to claim business expense deductions. In case of IRS audit, when those supports re missing, the expenses will be disallowed and you would loose the related tax benefit. Also, any financial audit of your business will ask to vouch thosesupports for legitimacy and accuracy. In USA, the legal time limit for keeping those supports is 7 years.

Nowadays, there are sofisticated software solutions to help store electronically documents safely with easy retrieval.

Adeolu Ajayi from Adeolu Ajayi Professional Corporation
0 Locals Recommend Them • Answered on Friday, June 30, 2017

Of course! In order to claim all the tax deductible expenses, you must have your receipts to support the claim. Here in Canada, you are required to keep all the receipts for 6 years.

Carolyn Payne from Dr. Carolyn S Payne CPA
0 Locals Recommend Them • Answered on Wednesday, June 28, 2017

The tax code actually favors small businesses. The best deductions and credits are reserved for these "job creators". Absolutely keep your receipts in case you have to prove your deductions to the IRS. I find that many business owners miss out because they don't take advantage of business deductions because they don't think they are deductible. Talk to your qualified tax professional.

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Asked By

Esther Kilada from Hellogalaxy Art
Clackamas, OR