I need to file returns for the past several years. I have misplaced and lost many of the records. Is there a good way to recreate business expenses for prior tax years? (E.T.N., Burbank, CA)
No. You are in deep trouble. First, the law requires documentation on a timely basis for a certain group of expenses. This group includes
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vehicles,
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entertainment, and
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travel.
If you have to recreate the records for this group, you will obviously violate the timely rule—putting these ... Log in to view full article.