As a Small Business Owner, Should I Save And Document All My Receipts?
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Hello Esther,
Yes, you should save your receipts for a minimum of three tax years, but, preferably six. The IRS would need to see receipts in an audit and will disallow deductions if you do not have receipts. A good way to keep them is to scan them and keep the electronic copy. This is acceptable to the IRS.
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