Robert Chazz Chute with the solid points once again!
An old friend of mine put the importance of keeping the receipts in stark perspective:
“You wouldn’t throw $5 in the garbage so don’t throw away that five dollar receipt if you can claim it as a deduction on your taxes.”
That really got me so, as 2017 draws to a close, it might be a good idea to review your receipts for tax purposes, too. Make sure they’re all in one spot and ready to go. You’ll miss fewer deductions if you track it as you spend, of course. Some people just toss the receipts in a box. Others use fancy software. I just use Google Sheets to track everything and hand it over to my accountant. You might be able to do it yourself but tax code is generally pretty complex and I don’t want to miss anything. I’m no accountant so I leave it to the experts…
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