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Padric Lynch
  • Rental Property Investor
  • Craven County, NC
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Can I pay a contractor with cash and still write it off (taxes)?

Padric Lynch
  • Rental Property Investor
  • Craven County, NC
Posted

Can I pay a contractor with cash, but still write it off as a business expenses.

If so, what is the best method for doing this? Should I be creating invoices and receipts to document and show proof of money's going out?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

 both, plus a 1099.

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