Receipts, Records & Retention: What to Keep, How Long, and How to Organize It

A keep-or-toss chart, digital filing system and IRS record rules in plain English. Part of the Mac Neal LLC Resource Series: practical, plain-English guides for freelancers, side hustlers and small-business owners.

Inside this guide:

• What makes a receipt or record "good enough" for tax purposes
• The extra proof the IRS expects for vehicles, travel, meals and gifts
• What to keep for income, expenses, assets, payroll, tax returns and your entity
• The IRS retention rules plus a keep-or-toss chart for common documents
• A digital filing system: folders, file names, scanning, backups and security
• Safe shredding and an annual records clean-out
• Printable templates: a folder map, file-naming examples, a retention log and a clean-out checklist

16-page PDF with checklists and printable worksheets. Updated October 2026 for tax year 2026.

General education, not tax or legal advice. Have a question about your own situation? Book a consultation at www.macnealllc.com.