How should I keep my tax receipts organized?

How should I keep my tax receipts organized?

It's important to keep your tax receipts organized for easy reference. You can categorize them by type, such as medical, business, or charitable donations.

What’s the best way to store them physically?

You can use a filing cabinet with labeled folders for each category, or a binder with plastic sleeves to protect the receipts.

Should I keep digital copies as well?

Yes, keeping digital copies is a great idea! You can scan your receipts and store them in a cloud service for easy access.

How long should I keep these receipts?

Generally, it's recommended to keep tax receipts for at least three years, but some documents may need to be kept longer.

Any tips for tracking expenses related to these receipts?

Consider using expense tracking apps that allow you to upload receipts and categorize expenses automatically.