When it’s time to submit an invoice for a partial / progress payment you may need to include a “Conditional Waiver and Release Upon Progress/Partial Payment” form (#1 release).
If you have suppliers you’ll probably have to include these same forms from them.
This article is an overview of waiver/release forms and is not legal advice. Please contact an attorney in your state with any questions you might have.Continue reading
Perhaps you haven't received your canceled checks back from your bank in years, or perhaps your bank has even stopped providing you with printed images of those checks with your bank statement, like mine has - and I must confess I can't even remember when they stopped doing that with our business account - but I do know that it's been several years.
So what happens when during an IRS Audit you are asked to produce cancelled checks to substantiate the payment of an expense?Continue reading