How should I keep records for tax deductions?
An example of an AI chatbot conversation about tax deductions and record-keeping.
How should I keep records for tax deductions?
It's important to keep organized records of all your expenses. You should save receipts, invoices, and bank statements.
What specific documents do I need to keep?
You should keep documents like receipts for business expenses, mileage logs, and any relevant tax forms.
How long should I keep these records?
Generally, you should keep tax records for at least three years after filing your return, but some documents may need to be kept longer.
Can I store these records digitally?
Yes, you can store records digitally, but make sure they are clear and legible. Use reliable cloud storage for backup.
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