- If you want to deduct an expense, you must have a receipt
- Note the business purpose right on the receipt
- Store all receipts and bills in a folder, so that all your expenses and deductions will be at your fingertips.
- Track expenses by category on a spreadsheet.
- On meals and entertainment, note who was with you.
Resources:
Business Expenses | IRS.gov
Standard Mileage Rates | IRS.gov
What kind of records should I keep?
Small Business Tax Tips: Make Your Filing Easy - Financial Web
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