Partners in Business tip: Carry a notebook with your receipt envelope

The Partners in Business program is sponsored by Ryder and Truckstop.com.

This notebook — or alternately, a log kept in a document on your smartphone or other mobile device — will be used to record those expenses for which you cannot obtain a receipt, such as when you wash your truck at a coin-operated facility or personal use of your auto, so you can deduct the expenses at tax time. Forward this record to your business services provider monthly with your other receipts. You must track the date, location, amount and reason for each expense in your log in order to meet IRS regulations.

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