Tax FAQs: FAQs on Record-Keeping Q.How can I verify expenses for claims I make on my tax returns?
• The most important thing for you to do is to always keep good records. Not only will good record keeping aid in protecting you should you ever be the recipient of an audit, it can also help in saving you money on your taxes. Otherwise forgotten deductions will turn up when perusing your records. In keeping good records, you should always document who you paid, when you paid, and the nature of your expense. IRS Publication 526, Record Keeping and How to Report, may assist you in this matter.
