How do you determine annual gross receipts?

One thought on “How do you determine annual gross receipts?

  1. Arti says:

    If you don’t have an AFS, you may use the safe harbor to deduct amounts up to $2,500 ($500 prior to 1-1-2016) per invoice or item (as substantiated by invoice). If you don’t have an AFS and have a policy for your books and records of deducting amounts more than $2,500 ($500 prior to 1-1-2016), you may properly deduct these amounts for federal tax purposes, as long as you can show that your reporting policy clearly reflects your income. If you don’t have an AFS and have a policy for your books and records of deducting

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