Tallie Wins 2015 CPA Practice Advisor Tax & Accounting Technology Innovation Award

Tallie honored for “Tallie Expense Management Intacct Integration” at 2015 California Accounting and Business Show and Conference

LOS ANGELES, CA – June 2, 2015 – For the second year in a row, Tallie, the leading SaaS expense reports innovator, was named a distinguished winner of the 2015 CPA Practice Advisor Tax & Accounting Technology Innovation Awards at the 2015 California Accounting and Business Show and Conference in Los Angeles, CA. This year, Tallie received honors for their “Tallie Expense Management Intacct Integration” – a first-of-its kind bi-directional integration that allows customers to access their Intacct entities and clients through a single set of credentials.

Now in its 12th year, the CPA Practice Advisor Tax & Accounting Technology Innovation Awards honor new or recently enhanced technologies that help accounting professionals and their clients be more productive and profitable. Tallie’s Expense Management Intacct Integration supplies the first complete, shared multi-entity environment for Intacct users, and allows users of Intacct Accounting Partner or Management Consoles to access all their client accounts from a single set of credentials. This seamless integration with Intacct ultimately helps accountants streamline their workflow to minimize efforts, costs and time spent on expense management.

“We couldn’t be more honored to win this award two years running,” said Chris Farrell, co-founder and CEO of Tallie. “At Tallie, we are consistently striving to be the leading force in the accounting technology space. Winning this award not only demonstrates the quality of our work though the power of our integrations, but it also helps reaffirm our position as an industry technology leader.”

Award recipients for the CPA Practice Advisor Tax & Accounting Technology Innovation Awards are selected by CPA Practice Advisor’s editorial board and awards committee, which include thought leaders and professionals from across the country, including the publication’s Editorial Advisory Board. Board members consist of accounting and tax professionals from various sized firms across the country who are engaged in a variety of practice areas.

“In the ever-evolving world of cloud ERP software, having a financial system that seamlessly integrates with their other business applications is important to our clients,” said Scott Lumish, VP of Business Development for Intacct. “Tallie being honored with this innovation award is further proof of their focus on delivering an outstanding client experience from their mobile app all the way to our accounting system.”

As mentioned, the awards were presented on Monday evening, June 1st at the 2015 California Accounting and Business Show and Conference. The event is the largest meeting of CPAs and accounting and business executives in California in 2015, assemble over 1,700 CPAs and accounting and business executives from all over the State.

For more information on the awards, please visit: www.cpapracticeadvisor.com

About Tallie

Tallie is the leading SaaS expense management innovator and enabler of the complete cloud-based accounting ecosystem.  In close collaboration with users, CPA practitioners, and industry-leading accounting, technology, and financial partners, it has developed mobile expense report solutions for comprehensive data capture, intelligent transaction categorization, robust approval controls and seamless software integration. Tallie was recognized for technology leadership by: CPA Practice Advisor, Inc. Magazine and The Sleeter Group. www.tallie.com
About Intacct

Intacct is a leading provider of best-in-class cloud ERP software. Bringing cloud computing to finance and accounting, Intacct’s award-winning applications are the preferred financial applications for AICPA business solutions. In use by more than 8,500 organizations from startups to public companies, Intacct is designed to improve company performance and make finance more productive. Hundreds of leading CPA firms and Value Added Resellers also offer Intacct to their clients. The Intacct system includes accounting, cash management, purchasing, vendor management, financial consolidation, revenue recognition, project accounting, fund accounting, inventory management, and financial reporting applications, all delivered over the Internet via cloud computing. Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765.

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McGladrey Selects Tallie as an Expense Management Solution

SAN FRANCISCO– May 18, 2015 – Tallie, the leading SaaS expense reports innovator, announced today that they have signed an agreement with McGladrey LLP, the nation’s leading provider of assurance, tax and consulting services focused on the middle market. Through this partnership, McGladrey will provide its clients with a robust and cost-effective expense management solution.

“With the innovation occurring in technology and mobility today, businesses face an entirely unique set of financial and accounting challenges,” said James Cashin, partner at McGladrey. “We selected Tallie as a strategic expense management partner because of their extensive integrations, flexibility and ease of use.”

“McGladrey understands that modern businesses need to be nimble, efficient and automated, where appropriate, to be competitive,” said Chris Farrell, CEO of Tallie. “That’s why we’re excited to partner with them in offering Tallie as part of their IT solutions stack. We built Tallie to do most of the work for the employee, the accountant and IT, so they can focus on the business at hand. We’re looking forward to bringing this to McGladrey clients to enhance the already robust services that McGladrey provides.”

For more information about the services McGladrey provides, visit www.mcgladrey.com.

About Tallie

Tallie is the leading SaaS expense management innovator and enabler of the complete cloud-based accounting ecosystem.  In close collaboration with users, CPA practitioners, and industry-leading accounting, technology, and financial partners, it has developed mobile expense report solutions for comprehensive data capture, intelligent transaction categorization, robust approval controls and seamless software integration. Tallie was recognized for technology leadership by: CPA Practice Advisor, Inc. Magazine and The Sleeter Group. www.tallie.com

About McGladrey

McGladrey LLP is the leading U.S. provider of assurance, tax and consulting services focused on the middle market, with 8,000 professionals and associates in 80 cities nationwide. McGladrey is a licensed CPA firm, and serves clients around the world through RSM International, a global network of independent accounting, tax and consulting firms. For more information join our Facebook fan page at McGladrey News, follow us on Twitter @McGladrey, and connect with us on LinkedIn, and/or on YouTube.

McGladrey Contact:

Katie O’Brien, Senior Marketing Associate

McGladrey LLP

617.241.1406

katie.obrien@mcgladrey.com

Tallie Investor Contact:

Nick Kormeluk, Chief Operating Officer

949-500-0003

nick@tallie.com

Tallie Press Contact:

Marisa Hagerman, Waggener Edstrom Communications

415-547-7017

tallie@waggeneredstrom.com

Tallie’s 2015 Tax Season Manual

Long hours, stress, and incredible deadlines–the 2015 tax season is well underway. Wish you had some straight-forward accounting advice? We’ve got you covered. Enjoy this selection of blogs about tax code, the IRS, and getting through the 2015 tax season in one piece!

Tips for Surviving (and Thriving) During the Busy Season

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Sometimes, when faced with a crushing deadline at work, our healthy habits are the first things to go. You don’t always have to sacrifice your sanity in order to make it through the busy season. We’ve catalogued ways of caring for your mind and body that will not only help you feel better, but are proven to boost the quality of your work.

Four Things You Need to Know About Deducting Business Gift Expenses

Tallie Blog Business Gift Deduction Expense Reports

Just as you can expense business meals and entertainment, you may also deduct a portion of the amount you spend on gifts for colleagues, clients, and employees. But there are limitations as to who you can give to, what you can give them, and how much of a deduction you can receive in return. Here are four things you need to know about successfully deducting business gift expenses.

Let Us Entertain You: Tips for Deducting Your Business’s Meal and Entertainment Expenses

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Entertainment expenses, such as the cost of meals and shows, are subject to particular scrutiny from the IRS. The complicated, ambiguous rules surrounding these kinds of expenses can make it difficult for business owners to know which costs are deductible. We give you a better idea of what qualifies as an entertainment expense, and how it can be successfully deducted.

Tallie Q&A: Mileage Tracking, Expense Reports and the IRS

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Nothing attracts more scrutiny from the IRS than business mileage expenses. But are the records required for deductions the same as the ones for reimbursement? How do you know which records to keep? Here are answers to some common questions from Tallie users.

Looking for ways to save time this tax year? Tallie’s expense management software automates expense reports from start to finish.

Try Tallie’s powerful expense management software FREE for 14 days – no credit card or commitment required. Give it a try by signing up today. Care for a walkthrough by a trained expert first? Contact us to schedule your free Tallie product demo now.

What You Should Know About the New QuickBooks Online Accountant

Those of you fortunate enough to be attending QuickBooks Connect 2014 (or feverishly monitoring it via social media!) have already learned the great news. Intuit has unleashed their brand new QuickBooks Online Accountant service, and boy does it have accountants talking. This incredibly robust program promises to save accountants time and effort with enhancements like easy access to all your books from anywhere, at any time, as well as allowing better collaboration and transparency. So what do YOU need to know about the new QuickBooks Online Accountant? Read on to discover more about just a handful of the fantastic new features that are coming your way!

Talle Blog - QuickBooks Online Accountant

Never Miss a Beat with a New Customizable Dashboard

Not everybody knows this, but accountants make great jugglers. No, really! No matter how many clients they have, an accountant must always keep both eyes out for every little detail, hiccup, and red flag that comes their way. Fortunately, the QuickBooks Online Accountant dashboard will make sure accountants have constant visual access and control over alerts, to-dos, and recent activities for each and every one of their clients–all in one place! Need to take a closer look at the books? Easy: the dashboard also provides one-click access to each client’s books and payroll.

Easy and Enhanced Tax-Mapping

Good news, tax specialists! QuickBooks Online accounts will soon be easily mappable to your tax accounts. After making tax-only adjustments within QuickBooks Online, accountants can push those changes directly into Intuit Tax Online without unnecessarily impacting the books. So look forward to seamless, impeccable record keeping and tax return generation!

Firm, But Flexible, Access Control

Want to limit which members of your firm can view or change which parts of your clients’ books? The new employee access controls available through QuickBooks Online Accountant will allow you to set roles and permissions for individual employees at multiple levels. You’ll be able to choose between Full, Restricted, or even customizing your own permission settings.

FREE QuickBooks Online Plus, Wholesale Pricing, Easy ProAdvisor Account Access, and More

The truth is, there are a whole host of new features and bonuses set to be released with QuickBooks Online Accountant. These include, but are not limited to, a FREE subscription to QuickBooks Online Plus, which will be offered complete with Intuit Payroll. This means that all of your business’s paychecks and guaranteed-accurate payroll tax calculations can be seamlessly integrated into your accounting software at no additional charge. Otherwise, accountants can save 50% for the life of their client’s QuickBooks Online subscription through Intuit’s wholesale pricing. And for you ProAdvisors out there, all of the product training, certifications, and benefits you know and love through your existing ProAdvisor program will now be accessible directly in QuickBooks Online Accountant. No new tabs or apps or anything! Just simple, direct access to all your necessary resources, right there within your accounting system.

Stay tuned for more coverage of exciting announcements from Intuit’s QuickBooks Connect 2014! Come on down to booth #310 to say hi to your friends at Tallie. We’d be happy to discuss our award-winning expense report automation software’s unmatched integrations with QuickBooks and QuickBooks Online!

Four Things You Need to Know About Deducting Business Gift Expenses

Everyone knows it’s better to give than it is to receive, right? Well, when it comes to your business, it turns out that you can do both at the same time. Just as you can expense business meals and entertainment, you may also deduct a portion of the amount you spend on gifts for colleagues, clients, and employees. There are, however, some limitations as to who you can give to, what you can give them, and how much of a deduction you can receive in return. So whether it’s a basket of holiday cookies or tickets to a Beyoncé concert, here are four things you need to know about successfully deducting business gift expenses.

Tallie Blog Business Gift Deduction Expense Reports

1. You can only deduct up to $25 per business gift.

We know you love your client almost as much as your client loves that gold-plated basket of pears. But as far as the IRS is concerned, you can deduct no more than $25 for each business gift per recipient for each tax year. It doesn’t matter whether you send that gift directly to your client, to their department, or to a member of their family. That $25 limit applies to everyone that may have benefited from your gift, even indirectly. However, if you send a set of gold watches to Mr. and Mrs. Smith, you will still be allowed to deduct $25 from each, provided that you have a separate (work-related) connection to each spouse.

2. You can’t deduct incidental costs.

Let’s say you’ve found that perfect gift for your IT department. While you always have the option of plopping it down in the middle of their desks unadorned, you’re probably going to want to wrap it first. Not to mention, giving gifts to partners at other companies means paying for shipping and handling. Know that in most cases, packing and mailing costs are considered “incidental,” and cannot be deducted. But if the packaging is considered to be part of the gift, like a hand-woven tote, its cost can be included in your deduction. Think the difference between wrapping paper and a decorative basket. Incidental costs may also refer to additional features that enhance the gift without substantially increasing its value–such as engraving.

3. Pens for everyone!

Certain kinds of items are considered to be exceptions to the $25 rule, and will not be counted towards your business gift expense limit. For example, you don’t need to include any widely distributed items that bear your name so long as they cost $4 or less. These small gifts most often manifest as pens, frisbees, and stickers with your company’s logo on them. Other strictly promotional items, such as signs or giant cardboard cutouts for display in your recipient’s storefront, are also not considered “gifts” for the purposes of the $25 deductible.

4. Are you not entertained?

According to the IRS, “any item that might be considered either a gift or entertainment generally will be considered entertainment.” (IRS Document 463 Ch. 3) So when in doubt, err on the side of an entertainment expense. But let’s say you give a client some tickets to an upcoming concert. If you attend the concert together, the cost of admission is automatically considered an entertainment expense. But if your client goes without you, you get to choose whether those tickets will be filed as entertainment or as a business gift expense. You are also free to change your mind about how to classify the expense, even after its been submitted to the IRS. If, after deducting the tickets as a gift, you determine that it would be more accurate (or more beneficial) to expense them as entertainment, you have three years to file an amended return.

You can keep track of all your business expenses, including business gifts, with Tallie’s award-winning expense report automation software. See how we can improve and simplify your accounting workflow FREE for 14 days – no credit card or commitment required. You can also schedule a product demo with one of our experts to help determine the best workflow for your business.

Let Us Entertain You: Tips for Deducting Your Business’s Meal and Entertainment Expenses

Taking a client out to dinner may be as common a business practice as buying a plane ticket, but deducting it can be a whole other story. Entertainment expenses, such as the cost of meals and shows, are subject to particular scrutiny from the IRS. The complicated, ambiguous rules surrounding these kinds of expenses can make it difficult for business owners to know which costs are deductible. We here at Tallie wanted to help cut through the ambiguity and give you a better idea of what qualifies as an entertainment expense, and how it can be successfully deducted.

Entertainment and meal expenses

First, the entertainment must be considered ordinary and necessary. While these terms may sound a little vague, in this case, “ordinary,” simply means that the form of entertainment is commonly practiced within your trade. A round of golf with a potential client? Sure. An extravagant dinner complete with a $600 bottle of wine? Probably not going to fly. And despite what it sounds like, “necessary,” does not actually mean that your company’s success hinges on your picking up the dinner tab–the IRS only requires that it be demonstrably helpful for your business.

Next, your expense must meet one of two tests in order to prove that the entertainment is “closely related” to work:

1. The “directly-related” test.

In order to pass this test, you need to be able to prove that “the main purpose of the combined business and entertainment was the active conduct of business.” (IRS Publication 463: Ch. 2) In other words, unless the festivities took place in a “clear business setting,” you must have had real reason to believe they’d lead to a specific benefit for your business, such as increased income, or a partnership with a new supplier.

A clear business setting can be a number of places, such as a designated booth at a convention, or even an office breakroom. Of course, there’s only so much entertainment to be had around a water cooler. For all other venues, not only must the “main purpose” of the expense be the active conduct of business, the location must be distraction free. It doesn’t matter how hard your team toiled away on those spreadsheets in the middle of the club last night–if you couldn’t hear each other over the music, it probably wasn’t a very productive meeting.

2. The “associated” test.

This test can be much easier to pass. According to the IRS, your entertainment expense may be considered deductible if it was “associated with the active conduct of your trade or business,” (IRS Publication 463: Ch. 2) AND if it occurred “directly before or after a substantial business discussion.”

How direct is directly? Essentially, the discussion (ie: meeting, negotiation, etc.) must take place on the same day as the entertainment. Exceptions can be made in extenuating circumstances–if your clients are coming in from out of town, for example, or if strict venue scheduling requires an event to take place the following evening. Whether these extenuating circumstances are approved, or whether the business discussion is deemed sufficiently substantial, is solely up to the IRS. You should always be prepared to explain how the discussion benefitted your business, as well as any working relationship with the client or business associate.

Generally, if your entertainment expenses meet the above requirements, they can be deducted for 50% of the total cost. That being said, there are a number of circumstances in which the 50% rule does not apply. If you provide food and entertainment for the general public on behalf of your business, this is considered as either advertising or a means of “promoting good will.” And, of course, if you went to the movies in your capacity as a professional film critic, the cost of admission would be considered a fully deductible business expense.

Which forms of entertainment are just plain not deductible? Well, you may not deduct the cost of leasing a facility designed exclusively for entertainment, such as a yacht or a hunting lodge. Nor can you deduct membership dues for any golf or country clubs. And when it comes to lavish or extravagant dinners, you may only deduct 50% of what the IRS determines to be a reasonable cost. If you spent $1,000 on a dinner that should only have cost you $100, you will probably only be able to deduct $50, as opposed to the full $500.

For more details, you can look to our previous post on what the IRS considers to be lavish and extravagant vs. ordinary and necessary expenses. This is especially important when deducting business gift and entertainment costs. As makers of expense report automation software, we understand it’s sometimes difficult to know which entertainment costs can be expensed and which don’t qualify. While it might be frustrating that the rules for what’s acceptable aren’t always cut and dry, just remember that common sense and frugality will go a long way.

Save valuable time with Tallie’s award-winning expense report automation software. See how we can improve your accounting workflow FREE for 14 days with no credit card or commitment required. Want some one-on-one help from our trained product experts? Schedule your free Tallie product demo today!

Tips for Surviving (and Thriving) During the Busy Season

As we find ourselves in the thick of fall tax season, many accountants are already feeling the dreaded “burn out.” After a month of working ten to twelve hours a day, six days a week, even the most dedicated CPA might start to dream about setting fire to their paperwork. (That is, if they ever got any sleep!)

Sometimes, when faced with a crushing deadline at work, our healthy habits are the first things to go. Why spend precious time taking care of yourself when there’s an audit underway? Well, the truth is, you don’t always have to sacrifice your sanity in order to make it through the busy season. Below are some ways of caring for your mind and body that will not only help you feel better, but are proven to boost the quality of your work.

1. Step away from the screen!

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Image Courtesy of Fotolia.com

The longer you power through those deductibles, the sooner they’ll get done, right? Wrong!

As it turns out, scheduling regular breaks during the workday can actually do more than lift your spirits. Studies have shown that taking a break can significantly increase your performance, as well as your ability to focus on the job at hand. It sounds counterintuitive, but taking time away from a task will allow you to work harder and more efficiently once you return. The most effective breaks are spent away from the screen, preferably on your feet or in conversation. But the best break of all is the one that makes you feel good–so whether it be a twenty minute power nap or a ten minute stroll around the building, know that your brain will always benefit from a little you-time.

2. Leave room on your plate for lunch!

It’s not just your mind that needs some TLC. When you’re buried under mountains of paperwork, it can be easy to lose track of time, and, before you know it, the lunch hour has come and gone. Being pressed for time is never a good reason to skip a meal–going without food is known to decrease productivity, and can leave you irritable, fatigued, and unable to concentrate. If your office makes a habit of ordering in lunch and dinner during tax season, take advantage of it! Otherwise, find the system that works best for you. Do you look forward to going out to lunch with co-workers? Treat yourself! Looking to save money by bringing your meals from home? Try preparing your lunches a couple days in advance, just in case you’re too tired to whip something up the night before.

And believe it or not, just because you’re sitting at a desk all day doesn’t mean you can skimp on the water. Scientists have found that even mild dehydration can lead to decreased cognitive ability, as well as a negative impact on one’s mood and stamina. So don’t forget to drink lots of water in between those pots of coffee!

Oh, and about that desk . . .

3. Deskercise!

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Image Courtesy of Shutterstock.com

If you often find yourself exhausted, stressed, and fidgety at the office, you may find relief in a rather unexpected place: exercise. That’s right: according to the American Psychological Association, employees who exercise during the workday are more productive, happier, and have more energy than those who stay sedentary. Of course, accountants don’t always have time for (or access to) a gym during tax season. Fortunately, there are a number of workouts that you can do right there at your desk, even while continuing to work on those returns.

If you feel a little silly working out in the middle of the office, try to spend one of your breaks throughout the day engaged in physical activity. Walking to or from work, or even standing up and doing a lap around the office once every hour can do wonders for your mood and overall health.

Tax season may come only once (okay, twice) a year, but that doesn’t make it any less tough. Just remember that by making time to take care of yourself during these hectic, back-to-back months of long hours and missing weekends, you can skip the burn out and enjoy that well-deserved break.

Of course, another great way to make sure the busy season goes as smoothly as possible is to make sure you’re using the right tools. When it comes to processing expenses, our comparative analysis found that Tallie clients experience 67% time savings when compared with other expense report products. Our software will also save you the hassle of dealing with errors and expense fraud through our automated error prevention features. Tallie offers duplicate detection, auto-merging of matching of credit card transactions and receipts, and will even auto-flag expenses that violate your company’s policies.

Good luck with the rest of the busy season! We’ll see you on the other side.

Ready to save time with Tallie’s award-winning expense management software? See how we can help improve your business’s accounting flow, FREE for 14 days – no credit card or commitment required. How about a walkthrough from one of our trained experts? Schedule your free Tallie product demo any time.

Tallie Truths: Top 4 True & False Facts About Digital eReceipts, Expenses and the IRS

When it comes to the IRS, recordkeeping, and reimbursements, you would think that the process was black and white. Instead, IRS publications on recordkeeping and reimbursements are a world of gray. In this edition of Tallie Truths, we expose what is fact and fiction in the world of eReceipts created by an expense software system in terms of audit preparedness. Read more to learn about the facts and industry best practices to prepare for a potential IRS audit. Enjoy!

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#1: eReceipts and credit card statements are acceptable proof for a $50 business meeting expense.

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IRS Publication 463 Ch5: “Documentary evidence is not needed if your expense, other than lodging, is less than $75.”

Ereceipts and credit card statements are acceptable for expenses, other than lodging, less than $75. This is because the IRS does not require any documentation for non-lodging expenses less than $75.(IRS Publication 463 Ch 5) This means after a purchase is expensed using Tallie’s credit card feature, the IRS will not require a documented copy of your receipt for tax deduction purposes. So if you lost the Safeway receipt for that case of sparkling water you bought for last week’s Board of Directors meeting – don’t stress!

That being said, there is a very gray area in regards to what the IRS considers necessary business expenses. For example, the IRS may not blink at a $70 bill at Kinko’s, but may reject a $70 bar tab for a client meeting , deeming it “lavish and extravagant.” Team Tallie suggests you do not push the limits and stick with only claiming the most necessary business expenses. This is particularly important when dealing with business gift and entertainment expenses.

#2: eReceipts and credit card statements can be submitted for a work conference hotel bill that is not paid with a per diem.

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IRS Publication 463 Table 5-1

For all lodging expenses – a business trip hotel stay, temporary housing if you move cross country for a new job, and any other necessary lodging for business related activities – a documented receipt IS required by the IRS. The only exception would be if these expenses were covered by a company per diem.

#3: Ereceipts and credit card statements are acceptable for a 30 mile drive to a new customer site visit.

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IRS Publication 463 Ch5: “Documentary evidence is not needed if you have a transportation expense for which a receipt is not readily available.”

Say you need to hop on CalTrain to drop off a contract at a new client’s office, or drive an hour north for a 3-day industry conference. If you need to replenish your gas tank because of this work commuting, the IRS does not require you to obtain a receipt of these gas purchases. An electronic receipt or credit card statement is sufficient. It should be noted that mileage/fuel costs are only reimbursable to the extent that the cost goes above and beyond the individual’s normal commute.

#4: In the event of an audit, the IRS will accept eReceipts and credit card statements for purchases over $75

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IRS Publication 463 Table 5-1

Remember that case of sparkling water you bought earlier? Well, let’s say you also bought $100 worth of gourmet foods for the meeting to impress the board. The IRS has no way of proving this trip wasn’t for your own personal groceries with a simple credit card statement.  For this purchase you would need a documented and reliable receipt to prove the expenses were business related.

Are you 100% Audit Ready? Start your own Tallie journey by signing up in 2 seconds flat. Use Tallie’s powerful expense management software FREE for 14 days – no credit card or commitment required. Give it a try by signing up today. Care for a walkthrough by a trained expert first? Contact us to schedule your free Tallie product demo now.