How can I track my deductible expenses effectively?

How can I track my deductible expenses effectively?

You can track deductible expenses by keeping detailed records, using apps, and categorizing your expenses.

What types of expenses are deductible?

Common deductible expenses include business supplies, travel costs, and home office expenses.

Are there any apps you recommend for tracking expenses?

Yes, apps like Expensify, QuickBooks, and Mint are great for tracking expenses and managing finances.

How often should I update my expense records?

It's best to update your records regularly, ideally weekly, to ensure accuracy and ease during tax season.

What if I lose a receipt?

If you lose a receipt, you can use bank statements as proof or create a written record of the expense.