It depends. If you work a normal W2 job and take the standard deduction, you don’t need to keep any receipts. If you run a business, you would need to have pretty good records of your expenses. And there are a lot of levels in between.
GrowthApart2220 on
Business expenses? yes. Buying a Pepsi at a convenience store? No.
3 Comments
Mostly no, but in some cases yes.
It depends. If you work a normal W2 job and take the standard deduction, you don’t need to keep any receipts. If you run a business, you would need to have pretty good records of your expenses. And there are a lot of levels in between.
Business expenses? yes. Buying a Pepsi at a convenience store? No.