Yahoo Finance 
The Truth About Saving Your Receipts
In this video, Entrepreneur Network partner Mark J. Kohler answers the question: Do you really need to save all of those paper receipts?
The answer is yes and no.
It's important to save your receipts because they serve as audit protection when the IRS comes asking about your business purchases. A credit card or bank statement just won't cut it. The tax agency wants to know exactly what you bought -- not how much you spent.
Rather than hoarding hundreds of little papers in an office drawer for years, you can go paperless by taking pictures or scans of your receipts and saving them on a flash drive or cloud storage service.
Click play to learn more about what to do with your receipts.
Watch more informative videos from Mark J. Kohler on his YouTube channel.
Related: How to Write Off Your Clothing and Laundry Expenses
Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.
EN is partnered with hundreds of top YouTube channels in the business vertical and provides partners with distribution on Entrepreneur.com as well as our apps on Amazon Fire, Roku and Apple TV.
Click here to become a part of this growing video network.
