What Tax Records to Keep

Determining what types of records should be kept for tax purposes can be confusing.  Here is what the IRS says:

In most cases, the IRS does not require you to keep records in any special manner. Generally speaking, however, you should keep any and all documents that may have an impact on your federal tax return:

  • Bills
  • Credit card and other receipts
  • Invoices
  • Mileage logs
  • Canceled, imaged or substitute checks or any other proof of payment
  • Any other records to support deductions or credits you claim on your return

I tell my clients to keep a “Jason File” and use it to keep anything that they think might be related to their taxes.