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Updated over 1 year ago on . Most recent reply

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117
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Tom Server
26
Votes |
117
Posts

Write off, no invoice?

Tom Server
Posted

I am a first-time property owner, and I just purchased a triplex; I kept the original landscaper.  He doesn't send out invoices and just gets paid by zelle. How do I write that off at the end of the year, if i have no invoices? 

Most Popular Reply

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317
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293
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Manny Vasquez
  • Real Estate Agent
  • Orange County
293
Votes |
317
Posts
Manny Vasquez
  • Real Estate Agent
  • Orange County
Replied

For materials and/or services for any of my investment properties where the contractor/person does not give me a receipt, I do one of two things:

1). I choose to jot-it down on a notebook where I keep track of my expenses.  I then turn over this expense notebook to my CPA so that he can use it to offset my taxes. 

2). I-if it's "big expense", I get ahead of this issue by whipping out a receipt book (you can buy one at any store like Target, Wal-Mart, Staples, Office Depot, etc) and jot down the work that was performed, materials, hours, amount of people, other expenses, etc. In short, I write down the total amount that was paid to perform the project.  If possible, I may have the service provider sign-it as a "just in case".

By the way, it was my CPA that provided both ideas to me :)

  • Manny Vasquez

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