How To Organize Receipts and Records for Tax Time

How To Organize Receipts and Records for Tax Time

If you want to save yourself some stress during tax season, the best thing you can do is organize your receipts and records throughout the year. Not only can this help prevent headaches by ensuring every transaction is accounted for, but it could also help you save money on your taxes or during an IRS audit. Read on as we at George A. Spencer, CPA, P.A. share the best ways for organizing your receipts and records, then contact us for tax preparation in Jacksonville.

searching through filing folders

Implement a Filing System

Whether you prefer to physically file your records in folders or digitally file them within a spreadsheet, you need a system that allows you to sort and organize your receipts. Consider starting by separating them into categories and labeling them so you can find them easily later.


Save Every Receipt

Throughout the year, you must be sure to save all your receipts. While some of them may not seem important, it’s worthwhile to have them all saved and organized in the event of an audit by the IRS. At George A. Spencer, CPA, P.A., we recommend our clients keep their receipts for at least three years.

calculating expenses

Keep Track of Expenses

As you save and organize your receipts and records, it’s easy to forget about them until you file your taxes. However, you should be keeping track of them over time to save time later. Nowadays, convenient software and smartphone apps make it easy to track expenses as they occur.

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Seek Help From a CPA

If you’re feeling overwhelmed about organizing and tracking your receipts, consider seeking help from a professional CPA, like George A. Spencer, CPA, P.A. We specialize in accounting and tax services, including tax planning. We’ll work with you through the entire year to ensure you’re prepared for tax time.

By organizing your records and receipts now, you’ll have an easier time managing your taxes later. For expert tax preparation help from a CPA in Jacksonville, contact George A. Spencer, CPA, P.A. today.

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