Keeping track of receipts for your small business is very important: it keeps you organized, keeps you on budget, and can be a big money-saver when you file deductions at tax time. The IRS is not a big fan of estimating your expenses. If you are going to claim a deduction, you’re going to need: When: The date of the transaction Where: Where you bought the item What: What the item was Why: What purpose it served in your business When, where, and what are generally found on a receipt, ...
