Receipts for Taxes
For taxes, keep a receipt or other document for every business expense you claim. The IRS asks that it show who you paid, the amount, proof you paid, the date and what you bought, with the business reason written down. Keep it for at least 3 years after you file the return it supports. The guides and free tools below cover each step.
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Written from IRS sources for United States federal taxes. States and other countries have their own rules. General information, not tax advice.
What receipts do I need for taxes?
The documents behind the entries in your books and on your return. The IRS lists sales slips, paid bills, invoices, receipts, deposit slips and canceled checks as the supporting documents a business keeps.
For an expense, those documents should show who you paid, the amount, proof that you paid, the date and a description that shows the amount was for the business. The IRS notes that a combination of documents may be needed to show all of it, for example a card statement and the itemized receipt.
How should I keep receipts for taxes?
Any way that clearly shows your income and expenses. The IRS lets you choose the recordkeeping system that suits your business, on paper or in software, and the same rules apply to electronic records as to paper ones.
Record each expense at or near the time you spend. Publication 463 says a record made then is worth more than a statement made later, and a log kept weekly counts as timely. Writing the business reason on the receipt the same day covers both.
How long do I keep receipts for taxes?
Generally 3 years after you file the return they support. Some cases run longer: 6 years if you left out more than 25% of your gross income, 7 years for a bad debt or worthless securities loss, and, for anything the business owns, until the period ends for the year you sell it. Our How Long to Keep Tax Records tool finds your date.
Sources: IRS, What kind of records should I keep (read October 30, 2026); IRS, How long should I keep records? (read October 30, 2026); IRS Publication 463 (2025), Travel, Gift, and Car Expenses, chapter 5 (read October 30, 2026); IRS Publication 583, Starting a Business and Keeping Records, Electronic records (read October 30, 2026).
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Guides in this hub
How to keep receipts from fading
Why thermal receipts disappear, how to slow it down, and the copy that does not fade.
Read the guideGas receipts for taxes
When gas receipts matter, when the mileage log matters more, and how to split the cost.
Read the guideHow to organize receipts for taxes
By year and by type, the way the IRS suggests, with a ten-minute monthly check.
Read the guideShould I keep grocery receipts for taxes?
Usually not. The few times a grocery receipt does matter, and what to write on it.
Read the guideHow to organize tax documents for your accountant
One folder, six parts, and a checklist of what goes in each.
Read the guideFree tools for your receipts
Missing receipt affidavit
Lost a receipt? Write the statement that stands in for it, then print it or save it as a PDF.
Open the toolHow long to keep tax records
Pick your situation and get the date your receipts, bank statements and returns can go.
Open the toolReceipt checker
Tick what your receipt shows and see what the IRS asks for that it is missing.
Open the toolQuestions people ask
What receipts do I need to keep for taxes?
Keep the documents behind every number on your return. The IRS lists sales slips, paid bills, invoices, receipts, deposit slips and canceled checks, and for an expense it wants them to show who you paid, the amount, proof you paid, the date and what you bought.
Do I need a receipt for every expense?
Generally yes. Publication 463 has exceptions for travel, meals, gifts and car expenses: no receipt is needed for an expense under $75 unless it is lodging, or for a transportation expense when a receipt is not readily available. Your own record of the expense is still needed.
Is a bank statement enough without receipts?
Usually not on its own. It shows who you paid, the amount and the date, but not what you bought or why. The IRS says a combination of documents may be needed, so keep a note of what you bought and the business reason with it.
Can I keep receipts on my phone instead of paper?
Yes, when the system meets IRS rules. Publication 583 says electronic records must meet the same requirements as paper ones and must be stored legibly and be able to be reproduced. Revenue Procedure 97-22 has the details.
Do I have to write things down the day I spend?
Not always. Publication 463 says a record made at or near the time is worth more than one made later, and a log kept weekly counts as a timely kept record.
How long do I keep receipts for taxes?
Generally 3 years after you file the return they support. It is 6 years if you left out more than 25% of your gross income, 7 years for a bad debt or worthless securities loss, and longer for property the business still owns.
What should I write on a receipt?
The business reason, in a few words. Publication 463 says you generally need a written statement of the business purpose, unless it is clear from the circumstances. For a business meal, add who you were with.
Do these rules apply to my state taxes?
Not always. This guide follows IRS rules for United States federal taxes. Your state has its own rules and may review a return for longer, so check with your state tax agency before you throw records away.