We know it’s hard to keep track of all your receipts and invoices, but let’s keep in mind the benefit during an audit. If you show up with all your ducks in a row, you will surely be ahead and impress the IRS agent in your favor. Consider buying a 13-pocket folder at OfficeMax or other retail store. They run about $12 and can store your entire year of receipts by month. You may want one for both your personal and business expenses. Here is a link to both a check-sized folder and a letter-sized folder.
