Hi, I just started a new business and I wondered why I have to keep every receipt (it's a hassle). Why can't I just show my credit card statement?

While I am not a CPA I can tell you this much.....I use my AMEX and other credit card statements for my taxes every year. I also am incorporated and keep very detailed books for my business. The best thing that you can do is set up a S-Corp and get the pass through along with the corp protection.