Okay, quick question: On a scale of zero to ten how satisfied are you with the paper trail you have for your business expenses? Good. Now, same scale – zero to ten – how satisfied are you with your paper trail if you knew you were being audited next week?
Want to answer “nine or ten” to both of those questions? Try shoeboxed.com. It is a receipt scanning service that ensures you’ll never have to worry about proving ANYTHING to the IRS … EVER. It’s all there. I *love* this service.
Think of it another way. The top-of-the-line service is $50 a month – that’s $600 a year. You can make that back easily if:
- You’re paying a bookkeeper to sort and organize your receipts today.
- You ever get audited
- You sometimes forget about expenses and, therefore, miss the deduction
- Your accountant ever needs to see the expenses or wants you to deliver them to [him]
- You think that, at some point, you’ll want to get a loan, or an equity investment.
- You think that, at some point, you’ll want to sell the business.
Having all those receipts there, on-line, categorized and accounted for … it’s priceless.
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