How to Donate Books for Tax Deductions | Sapling
How to Donate Books for Tax Deductions | Sapling
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If you want the deduction, you need documentation. The IRS requires businesses to maintain books and records. And every year, some small business owners lose out on legitimate write-offs because they don’t have the documentation to prove them. The IRS will typically ask: - Was it business-related? - Was it ordinary and necessary? - Can you substantiate it? For travel, meals, and vehicle expenses, the documentation rules are even stricter. That’s why it’s important to keep your records consistent
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