What You Need to Prove a Business ExpenseThink your credit card statement is enough to verify business expenses to the IRS? Think again.

ByMark J. Kohler

Opinions expressed by Entrepreneur contributors are their own.

You might think a credit card statement is enough evidence of a business expense. But you'd be wrong. Accountant Mark Kohler explains that business owners need individual receipts to back up your expense claims in case of ataxaudit.

Mark J. Kohler

Entrepreneur Leadership Network® VIP

Author, Attorney and CPA

Mark J. Kohler is a CPA, attorney, co-host of the podcastsMain Street BusinessandDirected IRA Podcastand a senior partner at both the law firm KKOS Lawyers and the accounting firm K&E CPAs. He is also a co-founder of Directed IRA Trust Company. He is the author ofThe Tax and Legal Playbook, 2nd EditionandThe Business Owner's Guide to Financial Freedom.

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