Records

What receipts to keep for taxes, and for how long

If you’re self-employed, the burden of proof for every deduction is on you. Here is which records the IRS expects, the exception for small travel expenses, and how long to hold onto them.

Updated · General information, not tax advice

Key takeaways

  • Keep proof of what you paid, to whom, when, and why for every business expense.
  • For travel, gifts, and car expenses under $75, a written record can stand in for the receipt, except for lodging.
  • Keep most records for 3 years after filing, 6 years if you might have underreported income by more than 25%, and 7 years for bad-debt or worthless-securities claims.
  • Scanned and photographed receipts are acceptable if they are legible and complete.

What counts as a supporting document

Publication 583 lists the documents that support business expenses. The goal is to show the amount, the payee, and that the expense was for your business:

  • Receipts and itemized invoices
  • Canceled checks or check images
  • Credit and debit card statements, together with the receipt or invoice
  • Account statements for electronic payments
  • Mileage logs for vehicle use

A card statement alone shows that you paid a merchant, but not what you bought. An itemized receipt answers the question an auditor will ask: was it a business expense?

The $75 rule for travel, gifts, and transportation

Travel, gifts, and car expenses carry stricter substantiation rules. For any of those expenses under $75, you don’t need a receipt as long as your written record shows the amount, date, place, and business purpose. Lodging is the exception: keep the hotel bill regardless of amount.

For business meals, record who you met with and the business discussed. Meals are generally 50% deductible, and entertainment is not deductible.

How long to keep tax records

SituationKeep records for
Most returns3 years from the date you filed (or the due date, if later)
Employment tax records, if you have employeesAt least 4 years after the tax is due or paid
You underreported income by more than 25% of what you reported6 years
You claimed a loss from worthless securities or a bad debt deduction7 years
You did not file a return, or filed a fraudulent oneIndefinitely
Records for property and equipmentUntil the period of limitations runs out for the year you sell or dispose of it

Asset records matter more than people expect. If you buy a laptop, camera, or vehicle for the business, the purchase receipt supports depreciation for years and the gain or loss when you sell it.

A system that holds up at tax time

  1. Capture each receipt when you get it. Paper fades and inboxes bury emailed receipts.
  2. Note the business purpose on anything that isn’t obvious from the merchant.
  3. File by category so your totals line up with Schedule C.
  4. Keep digital copies backed up somewhere other than your phone.
spentr reads the merchant, date, total, and tax from a photo, forwarded email, or Amazon order and files the receipt to a category. You can read more about digital receipts.

Frequently asked questions

Do I need receipts for expenses under $75?

Only for travel, gifts, and transportation expenses does the $75 threshold apply, and you still need a written record of amount, date, place, and purpose. Lodging always needs a receipt. For other business expenses, keep whatever document supports the expense.

Is a bank statement enough proof?

A statement proves payment but not what was purchased. Pair it with an itemized receipt or invoice for anything that could be questioned.

Can I throw away paper receipts after scanning them?

Generally yes, if your scans are accurate, legible, complete, and stored where you can retrieve them. Our guide on digital receipts covers what the IRS expects.

Sources

This guide is general information for U.S. federal taxes, current as of October 21, 2026. It isn’t tax, legal, or accounting advice. Talk to a qualified professional about your situation.

GuideAre digital receipts OK?Scanned and photographed receipts are acceptable records when they are accurate, legible, and retrievable. What Rev. Proc. 97-22 asks for and how to store them.GuideSchedule C categoriesEvery Schedule C expense line from advertising (line 8) to other expenses (line 27b), with examples of what goes where and the lines people most often get wrong.Who it’s forFreelancers & consultantsCapture software subscriptions, equipment, client meals, and travel as they happen. spentr keeps freelance receipts and mileage organized for Schedule C.
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