10/19/2026
🧾 Self-employed? Keep the receipt—and note the business purpose.
Freelancers, contractors, gig workers and small-business owners: now is a good time to organize your 2026 income and expense records.
This is an existing federal recordkeeping requirement—not a new tax law or proposal.
Your records should show who you paid, how much, when, what you purchased and how it relates to your business. A bank statement may show payment, but additional documentation may be needed to explain the expense.
✅ Save receipts, invoices and proof of payment.
✅ Record business income and expenses regularly.
✅ Separate personal purchases from business expenses.
✅ Keep mileage logs and other required records for vehicle or travel deductions. Special documentation rules apply.
Your action this week: Create a secure “2026 Business Records” folder, organize it by month and expense category, and identify missing documents.
Keeping a receipt does not automatically make an expense deductible. Eligibility and limits depend on the expense and your circumstances.
Premier Tax Consultants can help you understand which records to bring when preparing your return.
General tax education, not individualized tax advice.
Official IRS resources:
Business records to keep
Supporting your deductions
