{"id":394,"date":"2021-01-15T04:43:27","date_gmt":"2021-01-15T12:43:27","guid":{"rendered":"https:\/\/makereceipt.com\/pages\/?p=394"},"modified":"2026-04-07T09:42:04","modified_gmt":"2026-04-07T16:42:04","slug":"useful-receipts-for-tax-season","status":"publish","type":"post","link":"https:\/\/makereceipt.com\/pages\/useful-receipts-for-tax-season\/","title":{"rendered":"Useful Receipts for Tax Season"},"content":{"rendered":"\n<p>As a business owner, you should know what are the useful receipts or invoices to keep as it is your legal obligation as a taxpayer to save records and present all the necessary documents during tax season. Being organized and clearly shows your income and expenses is a big plus to make the auditor work run smoothly and to avoid stress on your end.<\/p>\n\n\n\n<p><strong>Here are the receipts or supporting documents that you must have on your records:<\/strong><\/p>\n\n\n\n<p>Keep in mind that for purchases, sales, payroll, and any other transactions you have in your business must have supporting documents to show.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/lh4.googleusercontent.com\/6ICI3TUKGN_DqqQucNEI7Nn125RFG7HzovrTnwkCUmaJ8r6Ltl_U7ge8ssbNALYWoVVdTtuQd3QerYDXzAm0_MEnBLK-CbusUNUUhvOKIW3-1-FYmVoL50hR3xM8uxgS6e0QS4wQ\" alt=\"\"\/><\/figure>\n\n\n\n<p><strong>For Gross receipts<\/strong><\/p>\n\n\n\n<ul><li>Cash register tapes<\/li><li>Deposit information (cash and credit sales)<\/li><li>Receipt books<\/li><li>Invoices<\/li><li><a href=\"https:\/\/www.irs.gov\/forms-pubs\/about-form-1099-misc\">Form 1099-MISC<\/a><\/li><\/ul>\n\n\n\n<p><strong>For business purchases<\/strong><\/p>\n\n\n\n<ul><li>Canceled checks or other records reflecting proof of payment\/electronic funds transferred<\/li><li>Cash register tape receipts<\/li><li>Credit card receipts and statements<\/li><li>Invoices<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/lh6.googleusercontent.com\/3pWkgE_drDa4qXc1iPbiz0TngdrZu6TUUs1X6cdqpOyr2lVGF-5oW2Qk8KqubUiuDlZVL5Zesia2svLwvpGemChPo7Z1QYSeAdEoNjEGFiWBBsDp0Nm2W3bhaPPaWuix_fr8t5BJ\" alt=\"\"\/><\/figure>\n\n\n\n<p><strong>For business expenses<\/strong><\/p>\n\n\n\n<ul><li>Canceled checks or other documents reflecting proof of payment\/electronic funds transferred<\/li><li>Cash register tape receipts<\/li><li>Account statements<\/li><li>Credit card receipts and statements<\/li><li>Petty cash slips<\/li><li>Invoice<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/lh6.googleusercontent.com\/uYCSiGajwDx9h87jLW6rgAudDevkxmynywt7I_DQEhwomxaG8bFn1Kfwc-7s6zLh5smouuUrrfxPJaoSa-Ax81L2uyijoEg8HcH_bp2p7yCRDA09RQMfja-tJcJcBMzaGLShmDpY\" alt=\"\"\/><\/figure>\n\n\n\n<p><strong>For Travel, Transportation, Entertainment, and Gift Expenses<\/strong><\/p>\n\n\n\n<p>For additional information, refer to <a href=\"https:\/\/www.irs.gov\/publications\/p463\">Publication 463, Travel, Entertainment, Gift, and Car Expenses<\/a>.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Looking for hundreds of brand name receipt templates? Be sure to check out <a href=\"https:\/\/expensefast.com\" target=\"_blank\" rel=\"noreferrer noopener\">ExpenseFast<\/a> and <a href=\"https:\/\/docdesk.co\" target=\"_blank\" rel=\"noreferrer noopener\">DocDesk<\/a>! <a href=\"https:\/\/expensefast.com\/receipt-templates\/\">ExpenseFAST has the largest number of receipt templates<\/a> in the world. <a href=\"https:\/\/expensefast.com\/why-docdesk-is-better-than-expensefast\/\">DocDesk provides the most advance receipt editing<\/a> capabilities possible.<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>For Assets<\/strong>&nbsp;<\/p>\n\n\n\n<ul><li>When and how you acquired the assets<\/li><li>Purchase price<\/li><li>Cost of any improvements<\/li><li>Section 179 deduction taken<\/li><li>Deductions taken for depreciation<\/li><li>Deductions taken for casualty losses, such as losses resulting from fires or storms<\/li><li>How you used the asset<\/li><li>When and how you disposed of the asset<\/li><li>Selling price<\/li><li>Expenses of sale<\/li><\/ul>\n\n\n\n<p>The following documents must display the following information:<\/p>\n\n\n\n<ul><li>Purchase and sales invoices<\/li><li>Real estate closing statements<\/li><li>Canceled checks or other documents that identify payee, amount, and proof of payment\/electronic funds transferred<\/li><\/ul>\n\n\n\n<p><strong>Employment taxes<\/strong><\/p>\n\n\n\n<p>Keep all the records of employment for at least four years. For additional information, refer to <a href=\"https:\/\/www.irs.gov\/businesses\/small-businesses-self-employed\/employment-tax-recordkeeping\">Recordkeeping for Employers<\/a> and <a href=\"https:\/\/www.irs.gov\/forms-pubs\/about-publication-15\">Publication 15, Circular E Employer&#8217;s Tax Guide<\/a>.<\/p>\n\n\n\n<p>You can always check the IRS<a href=\"https:\/\/www.irs.gov\/\"> (Internal Revenue Service)<\/a> for more guidance and information. But also be aware of <a href=\"https:\/\/www.usa.gov\/irs-scams\">IRS Scams<\/a>.<\/p>\n\n\n\n<p>The best way to keep receipts is to be organized. You just need to spend a little time each day and file everything according to its month and year. And to avoid too many papers or filing cabinets around the office you can use <a href=\"https:\/\/makereceipt.com\/\">MakeReceipt<\/a> to make your work quicker and better. It is a receipt maker that can make your filing taxes less challenging. You can also assess your annual spending more accurately. Read the <a href=\"https:\/\/makereceipt.com\/pages\/interesting-facts-about-receipts\/\">Interesting Facts About Receipts<\/a>, <a href=\"https:\/\/makereceipt.com\/pages\/how-useful-is-a-receipt\/\">How Useful Is a Receipt<\/a>, and <a href=\"https:\/\/makereceipt.com\/online-receipt-generator-on-apps-and-websites\">Online Receipt Generator on Apps and Websites<\/a> to know more about how amazing this tool is.<\/p>\n\n\n\n<p>Additionally, if you have a lost receipt and need replacement, or want to remove specific items because it is not considered as a business purchase, you can create a receipt in a wide variety of formats. Receipt template such as <a href=\"https:\/\/makereceipt.com\/receipt-templates\/restaurant\/\">Restaurant Receipt<\/a>, <a href=\"https:\/\/makereceipt.com\/receipt-templates\/retail\/\">Retail Store Receipt<\/a>. <a href=\"https:\/\/makereceipt.com\/receipt-templates\/gas\/\">Gas\/Fuel Receipt<\/a> and many more!&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/makereceipt.com\/signup\">SIGN-UP<\/a> now and get motivated by how much money you can save, how will your work become more productive, and save yourself from the tax burden possibilities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As a business owner, you should know what are the useful receipts or invoices to keep as it is your legal obligation as a taxpayer to save records and present all the necessary documents during tax season. Being organized and clearly shows your income and expenses is a big plus to make the auditor work [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":395,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":""},"categories":[19],"tags":[23,27,22,25,29],"_links":{"self":[{"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/posts\/394"}],"collection":[{"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/comments?post=394"}],"version-history":[{"count":4,"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/posts\/394\/revisions"}],"predecessor-version":[{"id":583,"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/posts\/394\/revisions\/583"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/media\/395"}],"wp:attachment":[{"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/media?parent=394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/categories?post=394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/makereceipt.com\/pages\/wp-json\/wp\/v2\/tags?post=394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}