Keep the Receipts or Lose the Deduction
A write-off is only as good as the proof behind it. Here’s the record every deduction needs — and how long to keep it.
A deduction you can’t document is a deduction you can lose. If your return is ever questioned, the burden is on you to show each expense was real, was for the business, and was the amount you claimed. Good records are what make a legitimate write-off actually stick.
What a good record shows
For each expense, you want to be able to answer four questions: how much, when, what for, and that it was business. In practice that means keeping:
- Receipts and invoices for what you bought.
- Bank and card statements that back up the payment.
- A note of the business purpose for anything that isn’t obvious — who the meal was with, why the trip happened.
- A mileage log if you deduct vehicle use — date, miles, and reason per trip.
The habit that makes it painless
- Separate the money. A dedicated business checking account and card means most of your recordkeeping happens automatically — business spending stays out of your personal statements.
- Capture receipts as they happen. Snap a photo the moment you get one; a shoebox in April is how deductions get lost.
- Log mileage in the moment, not from memory months later.
How long to keep it
Keep tax records for at least three years from when you filed as a general baseline — but some situations stretch that window longer, and records tied to property or equipment should be kept for as long as you own the item plus a few years after. When in doubt, keep it longer.
This is general education, not tax advice — Done Deal Digital isn’t a CPA firm. Your exact situation depends on your income, your state, and how you keep your records. For a definite answer on your own return, work it out with a qualified CPA.
That’s the short version
Build the paper trail once
The Write It Off guide gives you a simple, artist-sized recordkeeping system — what to save, how to file it, and how long to hold it — so every deduction in the book is one you can actually defend.
Get the Guide — $39 →Or get all seven tax guides in one — The Complete Tax & Money Guide, $99 →