Receipts

Income and deductions on tax returns should be supported by receipts that you keep in your files for at least 3 years. To do your tax return, I generally only need those items that are sent in to the IRS like 1099's and W-2's. I keep a computer record of those so that I can more easily help you with any future IRS inquiry. For most deductions, I just want you to give me amounts and totals instead of the receipts. Keep a file of receipts and tax documents by year including a copy of the return. After 3 years, throw away the receipts and supporting documents, but keep the copy of the tax return.