Keep Every Business Receipt — Here Is the Easiest Way to Do It

The IRS requires documentation for business expenses, and a bank or credit card statement alone is often not enough. A receipt shows what you purchased, not just the amount — and that detail matters when a deduction is questioned.

What You Actually Need to Keep

• Receipts for all business purchases over $75 (and smaller ones where possible)

• Invoices from vendors and contractors

• Mileage logs if you are deducting vehicle use

• Documentation for meals and entertainment (who, what, and why)

Make Receipt Tracking Effortless

The simplest system is the one you will actually use. A few options that work well for small business owners:

• Take a photo immediately after every purchase and store it in a dedicated folder

• Use a receipt scanning app that exports directly to your bookkeeping software

• Email receipts to a single dedicated inbox you check monthly

Your bookkeeper can tell you exactly what documentation your CPA needs to support each type of deduction. Getting this right from the start avoids surprises at tax time and protects every deduction you are entitled to.