What is the maximum amount i can claim on a schedule c without any reciepts?

I do alot of odd jobs.. and want to file my taxes to the best of my ability.. I dont really have proof of money earned or expenses.. What is the maximum amount of income i can show on a schedule c without any documentation?

What is the maximum amount i can claim on a schedule c without any reciepts?
NONE. That s what the law states. You must keep receipts.





now, if you are asking what might set off a red flag to question or audit your return...well, that's too hard to say.





I know of a lady who puts $8k and has never been audited, yet anyway. Then there is the guy who put $750 bucks and got a letter from the IRS asking him to substantiate that amount with receipts.





But if you really did have those expenses and have a good excuse (fire in home or tsunami) for why you no longer have the receipts then you will be allowed to claim those expenses. Especially if they are within reason. for example if your business deals with lawn care...then repairs to a mower or buying a shovel are reasonable.





But dont mess with the IRS, there are some mean people working there.
Reply:And the Cohan rule is usually accepted in cases where you have proof for most months and are missing proof in others (say from a fire or other disaster).
Reply:There is no income maximum. If you are audited, the IRS will be concerened about you underreporting rather than overreporting, your income.





Expenses are a different matter. For expenses, the risk is that they will be overstated. Consequently, the IRS can disallow your expenses without sufficient documentation.





You still may be able to win on that point, though, using the Cohan rule. That court case basically recognizes that some expenses must have been incurred in order to produce income, and that reasonable methods MIGHT be allowed to estimate them.