Keeping Track of Receipts for Taxes

What receipts should I keep to use for taxes? For example: food, gas, clothing, etc.

By Sissy30 from Dustbowl, TX

Answers:

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Keeping Track of Receipts for Taxes

Call somebody that does that kind of work, good luck. (02/04/2010)

By kffrmw88

Keeping Track of Receipts for Taxes

Unless you run your own business, there are no general receipts for tax deductions you need to keep for the IRS unless you make oodles of money over and above a salary for the 'standard deduction' allowed. In that case you would want to talk to an accountant, preferably a CPA.

You do need to keep a copy of your tax returns and attached W2's for seven years though and that's to protect yourself in case of an audit. (02/09/2010)

By Deeli

Keeping Track of Receipts for Taxes

There are some receipts you should keep if you file a 1040 (long form). A % of child care, like after-school cost, is deductible. Also sales taxes are deductible, again if you file the long form. I find that if I keep track of the sales taxes I pay when I make a purchase it comes out to be more than the IRS AGI-based calculator. Just my 2 cents worth. (02/17/2010)

By Annae

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