If I have electronic statements or records, do I have to physically organize my personal tax receipts?

Answer: Yes, it is better to organize physical tax receipts
Explanation: If you do not have them organized, it will increase my time on the project which could increase the fee.

Answer: No, just put them in a single box or folder
Explanation: Your bank and credit cards statements, records and receipts are for the purpose of "proving" your bookkeeping or tax returns. You only need these IN CASE of an audit. Otherwise, we don't want or need these during the tax preparation process with the exception of a few key documents (tax forms, real estate closing summaries, etc).

Answer: Yes, it is better to organize physical tax receipts
Explanation: It is always better to have documentation of your tax receipt to keep track of how much you spend on a day-to-day basis.

Answer: Yes, it is better to organize physical tax receipts
Explanation: Yes, it’s better to organize by each category of expense

Answer: Yes, it is better to organize physical tax receipts
Explanation: It is always better to have an organized paper file with your receipts. If technology goes down there is always the paper backup.

Answer: Not sure
Explanation: The more preparation you do, the less we have to do, and the more money you can save.

Answer: Yes, it is better to organize physical tax receipts
Explanation: Keeping your "hard copy" receipts organized and in a safe and secure space provides another layer of backup in the event of the electronic receipts getting lost or destroyed.

Answer: Yes, it is better to organize physical tax receipts
Explanation: If audited, the IRS requires 2 things, one proof of payment like canceled check, CC charge etc., and a copy of the invoice or receipt. Learn more at myirstaxrelief.com

Answer: No, just put them in a single box or folder
Explanation: Receiving information electronically is actually more helpful.

Answer: No, just put them in a single box or folder
Explanation: It is not necessary to organize them as long as you keep them together in a folder available in case of an tax audit or examination.

Answer: Yes, it is better to organize physical tax receipts
Explanation: The better organized the tax records the less time the accountant have to spend organizing them which relates in saving for the client

Answer: Yes, it is better to organize physical tax receipts
Explanation: Please organize your physical reciepts by category. It will help prepare you for tax season.

Answer: Yes, it is better to organize physical tax receipts
Explanation: While it is not necessary it is highly recommended that you organize your tax receipts in a manner that is easily accessible in the future. Such as by month, quarter, or year. The key is to be able to access the information quickly some time in the future.

Answer: Yes, it is better to organize physical tax receipts
Explanation: As long as you can have access to those E files and also you keep a back-up copy in a safe and secure place, you are in compliance.

Answer: Yes, it is better to organize physical tax receipts
Explanation: Organize by type of expense or income for better record keeping.

Answer: Yes, it is better to organize physical tax receipts
Explanation: It's more professional to be organized with you records. Or we will organized them for you.

Answer: Yes, it is better to organize physical tax receipts
Explanation: By reviewing your receipts, you are able to sort them and better organize yourself. But you can send your receipts if you wish to.

Answer: No, just put them in a single box or folder
Explanation: We recommend you keep all receipts. If you do not have a formal filing system for receipts we suggest using large ziplock bags as it will assist in keeping the receipts from fading and keeps everything in one place.

Answer: No, just put them in a single box or folder
Explanation: If you have electronic statements I would move them to a separate file in your email so they are easily accessible. You may want to create sub-files by year under the main file so that you can sort quickly should you need to find any records.

Answer: Yes, it is better to organize physical tax receipts
Explanation: I recommend that you organize the receipts. Because receipts will fade. So if you could scan them onto a computer or database. It will prevent them from damaging.

Answer: No, just put them in a single box or folder
Explanation: It is always a good idea to be organized with everything you do regarding personal tax receipts. As technology continues to grow, physical receipts will be a thing of the past. I always advise my clients to treat their electronic copies the same as they would a physical copy.

Answer: Yes, it is better to organize physical tax receipts
Explanation: It is better to be organized than to have to hunt for something. It ultimately takes a lot less time and is certainly less frustrating.

Answer: Yes, it is better to organize physical tax receipts
Explanation: It is great to have the records in statement but the IRS wants to see the receipts. You can also scan those in as well but never figure that anything is better proof to the IRS then the original receipt.

Answer: Yes, it is better to organize physical tax receipts
Explanation: IT IS BETTER TO KEEP YOUR RECEIPTS ORGANIZED AS A BACK UP IN CASE ANYTHING HAPPENS TO YOUR ELECTRONIC DEVICE

Answer: Yes, it is better to organize physical tax receipts
Explanation: They will be archived and stored for proof and support. Tax, finance & budgeting purpose etc.

Answer: No, just put them in a single box or folder
Explanation: The IRS is not specific about how you maintain your records and receipts as long as they can be accurately produced when needed. In my office we can all tax records we receive from our clients and return them back for their records. Many professionals are doing that now.

Answer: No, just put them in a single box or folder
Explanation: I will be glad to organize in any order specified.

Answer: Yes, it is better to organize physical tax receipts
Explanation: The more organized your receipts are, the more accurate your tax return.

Answer: Yes, it is better to organize physical tax receipts
Explanation: You should organize your personal receipts as proof for future tax filings.

Answer: Yes, it is better to organize physical tax receipts
Explanation: I use a filing cabinet along with file folders to keep track of documents that are needed for year end tax preparation

Answer: Yes, it is better to organize physical tax receipts
Explanation: The better organized your documents, the lower your ultimate fees will be.

Answer: No, just put them in a single box or folder
Explanation: Physical receipts are for your own use and should be presented if needed upon the unlikely event of an audit. The client will sign a verification stating possession of physical receipts.

Answer: Yes, it is better to organize physical tax receipts
Explanation: IRS auditors look at such organization as clues to whether you filled out the information correctly. A more organized organization is less likely to bring up red flags than a disorganized one.

Answer: Yes, it is better to organize physical tax receipts
Explanation: It is good to have electronic statements and records, but systems can crash so having paper backups is a good practice.

Answer: Yes, it is better to organize physical tax receipts
Explanation: Sometimes questions may arise on electronic statements. If you have the physical receipt with detailed information such as the names and company of the clients, and it is organized and easy to access, any questions will be much easier to answer.

Answer: Yes, it is better to organize physical tax receipts
Explanation: it is easier to give an accountant papers to look at verses having to open the email to verify

Answer: No, just put them in a single box or folder
Explanation: With tax, the answers are never straight forward. The answer is yes and no. Electronic statements only get you so far. For full audit protection from the IRS, you need receipts for some of your expenses. Organizing them isn't necessary, but if you are audited, the audit goes smoother if you give the IRS agent what he is asking for in neat piles. That being said, there is a level of satisfaction one may receive in just handing a box of receipts to the auditor.

Answer: No, just put them in a single box or folder
Explanation: You do not need original receipts. I advise scanning them and keeping them on your computer and on a backup hard drive.

Answer: Yes, it is better to organize physical tax receipts
Explanation: To organize your receipts, put them in by month or at least within a category that fit within what you are going to use when you complete your income taxes.

Answer: Yes, it is better to organize physical tax receipts
Explanation: Though you could keep tem in a single file better organization makes it easier to identify and retrieve specific types of dasta

Answer: Yes, it is better to organize physical tax receipts
Explanation: The IRS will provide you with a document that outlines what receipts and under what category (Meals, Flights, Auto, Home Repair, etc...) that business receipts will fall under. I advise to match your electronic records with the physical receipts. So while you have electronic receipts and these are accepted by the IRS if audited, I recommend also having either a backup or paper copy. Lastly, I recommend not only organizing by Category, but also by the month, this allows you to reconcile each month and ensure your tax estimates are correct when paying your quarterly estimates. Hope that helps