Proper recordkeeping could be your ticket to maximizing deductions and minimizing stress!
Charitable donations under $250 don't need receipts! Quick tip: Set up a dedicated folder for donation receipts to easily track your charitable giving.
Are you Team Shoebox or Team Cloud? Use a hybrid approach - scan documents for easy access, but keep physical copies of major purchases and tax returns.
Think you can toss those records after a year? Think again! For property records, keep documentation for 3 years after you've sold the asset.
Record the date, destination, purpose, and miles driven for each business trip. Use a mileage tracking app to automatically log your business drives and calculate deductions.
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