What receipts do I need to keep for a tax audit?

What receipts do I need to keep for a tax audit?

You should keep receipts for all deductible expenses, including business expenses, medical expenses, and charitable donations.

How long should I keep these receipts?

It's recommended to keep receipts for at least three years after filing your tax return, but some documents may need to be kept longer.

What if I lost some of my receipts?

If you've lost receipts, you can use bank statements or credit card statements as proof of purchase, but it's best to try to obtain duplicates.

Are there specific formats for keeping these receipts?

You can keep physical copies or digital copies, but ensure they are clear and legible. Organizing them by category can also help.