What to Do If Your Receipts Fade

5-20-10-1Today’s blog is a quick tip on what to do if your receipts fade. Let’s start with the why you should care.

If you are selected for audit and have taken a deduction, the auditor is going to ask to see a receipt. And if you have a receipt that you’ve gotten from a cash register that prints on thermal paper, you might now have a blank receipt.

And over time and exposure to light, thermal receipts fade.

You can bring them back to life with an iron or hair dryer. You end up with a reverse image, but at least it’s readable for awhile.

5-20-10-2Best bet is to copy your receipts or scan them so you have a more permanent, non-fading option.

Looks like we’re in for an onslaught on IRS and state audits. The government’s broke and the budgets across the board are funneling money into the division that puts money in the coffers – the audit division. Make sure you have good records!

Related posts:

  1. You vs. the IRS: 3 Little Known Secrets To Winning an Audit
  2. The One Deduction Most S Corporations Get Wrong
  3. Quit Sitting On Your Assets. Turn Them Into Cash!

What do you think?