Article Date:
December 2006

Word Count:



Lack of Proper Records Crushes Deductions

Charles E. Townsend learned that failing to keep the records required by section 274 on his car, travel, and entertainment means that neither the IRS nor the courts will give him those deductions. In summary, here is what happened:1



Townsend lost $5,844 in claimed auto deductions using the IRS mileage rate because he had no mileage log.


He lost $6,840 in federal standard meal-rate deductions because he had inadequate travel records.


He lost another $6,884 in other travel expenses because he ... Log in to view full article.

Log in to view full article
Already a subscriber?
Email Address


Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
with a money-back guarantee