Handwritten Receipt

[Tbill]

I need to buy an expensive piece of equipment for my business (about $18,000). I found one on eBay that is a pretty good deal. (I've only ever bought a few insignificant things on ebay) He has several listings for similar pieces of equipment, he seems to be some sort of Ebay reseller or business.This seller happens to be not far from my house, and agreed to let me come by this weekend and check it out in person. I asked him how he would like to be paid and he said "since your local you can pay with a money order or cashiers check". I'm assuming he would prefer direct payment so that he can circumvent the Ebay fees, which I guess I'm fine with especially if he will negotiate the price even lower. If I buy in person I'm assuming I may wind up with a hand written reciept or something.
My question concerns the tax deduction for my business: If I get audited will a hand written reciept appese the IRS? this will be a pretty big tax deduction for me and I want to make sure I get it.

[trollwithamustache]

For something that large you would probably want some kind of bill of sale or sales contract to document the transaction and then a separate receipt to document payment. You absolutely need some documentation of a transaction of this size.

It may be worth talking to an accountant as well if its equipment and not a consumable then it may have to be depreciated over several years, not just written off entirely in the year of purchase.

[Spork]

This is what I would want.  I'm not an accountant, just thinking aloud
* I would not bypass the ebay process.  Bypassing paypal ... sure.  But don't go around Ebay.  Ebay provides some level of proof you bought it from him.  It provides some sort of trail if this is ever found to be a scam or stolen or ... 
* I would want a real receipt/bill of sale... printing off the ebay invoice is a start.  But some hand written thing on a blank sheet of paper with no letterhead... no.  (Yes, letterhead is easy to fake, but a scrap of paper with hand scribbles just screams "run away".
* For that price, seller would also have to have a pretty impeccable rating on Ebay.


I worked for a very large corporation in the security department... and you'd be amazed at the sort of stuff that was stolen/sold on Ebay.  I'm talking extremely expensive, highly technical equipment where there are only a few hundred serial numbers total (and every number has a very well known, large corporate buyer associated with it.)  I'm not saying to avoid this.  I'm saying to tread lightly.

[Livingthedream55]

* I would not bypass the ebay process.

Also, the seller avoids paying the Ebay fees and you lose all Ebay protections if you buy this equipment basically "off the books'  (it's like it never happened)
Here is the Ebay Equipment Purchase Program Protections:
http://pages.ebay.com/help/buy/business-protection.html

[Playing with Fire UK]

I'd ask more about the seller's business. If they have a legitimate business outside of eBay you could purchase it through that without paying eBay's fees and still have a proper receipt.