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[quote=Anonymous][quote=Anonymous]OP here, thanks everyone. I have already have a CPA but this is my first year he will be doing my taxes to include rental income. I hope the depreciation and other rental expenses I incurred help offset my taxes big time. One question: I hire a handyman and pay him IN CASH for all the work he does for me. Is that a problem? He gives me receipts but it's a note pad he bought from HOME DEPOT and it doesn't even have his name, number, address on it so I handwrite his info into the receipt. If the IRS ever audits me will this even be enough? He's not licensed and wants all cash but I do give him checks from time to time. [/quote] No as long as you have the receipt from him. However make sure to write in his name and address. I recently went through this with my accountant. We have 2.5 acres, every year I pay them cash to clean it all up. Also, if you pay cash you could attach your atm withdrawal receipt. [/quote]
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