Do you have questions? We have answers.
With over 25 years of experience, Salmon Sims Thomas provides client-centered tax, audit and business advisory services to privately-held businesses and individuals. Every person at SST is proud to act as a trusted advisor to our clients. At the office, we often notice clients asking similar questions. Once a month we’ll answer some of our most commonly asked questions in hopes of helping you with your advisory needs.
Do I need actual paper receipts as backup for entertainment expense deductions or can I use my bank statement?
The proof is not just in the paper. If you are audited, you must be able to substantiate your expenses by documenting the ‘who, what, when, where and why’ of the expense.
– Christina Nichols Morris, Tax Senior
For more information on entertainment expense deductions, please contact Salmon Sims Thomas.