How should I store my tax deduction receipts?
It's best to keep your tax deduction receipts organized and stored securely. You can use a filing system or digital storage.
What are the benefits of digital storage for receipts?
Digital storage allows for easy access, reduces physical clutter, and can be backed up to prevent loss.
How long should I keep these receipts?
Generally, you should keep tax deduction receipts for at least three years, but some situations may require longer retention.
Can I use apps to track my receipts?
Yes, there are many apps available that can help you scan, organize, and store your receipts digitally.
What if I lose a receipt?
If you lose a receipt, try to obtain a duplicate from the vendor or use bank statements as proof of purchase.
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