23/07/2026
Big news a $1,000 tax deduction.
You can now claim a $1,000 deduction without needing a single receipt. No paperwork, no shoebox of crumpled receipts, no stress.
But here's the catch. The expense still has to be real. You need to have actually spent that money while earning your income.
So what should you do?
Keep your receipts anyway, at least for now.
And start tracking how you spend money related to your job, things like travel, client gifts, stationery, or your phone bill.
Why? Because if you ever get reviewed, you'll need to show a clear breakdown of what you spent and why. Even without the physical receipt, you'll want to prove the expense actually happened in the course of earning your income.
Questions about how this applies to you?
Drop them below or send us a message.
