What receipts should I keep to use for taxes? For example: food, gas, clothing, etc.
By sissy30 from Dustbowl, TX
Call somebody that does that kind of work, good luck. (02/04/2010)
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)
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)
Add your voice! Click below to comment. ThriftyFun is powered by your wisdom!