Receipts
How do I organize receipts for taxes?
By the Mylo team · Last updated July 1, 2026
Short answer
The cleanest approach is to digitize every receipt, sort it into consistent expense categories, and store it somewhere searchable so you can find anything at tax time. Group receipts by category and year, keep the itemized detail, and back everything up.
Paper receipts fade and get lost, so the reliable move is to capture a clear digital copy of each one as it comes in rather than sorting a shoebox in April. Consistent categories (meals, supplies, travel, software, and so on) matter more than perfection, because they map directly to the lines on your tax forms.
Keep the full itemized detail, not just a total, since substantiation sometimes needs to show what was actually bought. Organize by tax year so a completed year can be archived cleanly, and keep a backup copy in case a device is lost. The IRS can ask you to substantiate deductions, so check current IRS guidance for what to keep and for how long.
How it works in Mylo
- Capture a digital copy of each receipt as soon as you get it.
- Assign every receipt a consistent category that maps to your tax lines.
- Record the merchant, date, total, tax, and itemized detail.
- Sort by tax year so each year can be archived when it closes.
- Keep a backup so nothing is lost with a single device.
Best practices
- Standardize your categories once and reuse them every year.
- Digitize immediately instead of batching a pile at deadline time.
- Mylo captures receipts automatically from your email, connected store accounts, your camera roll, and card matches, then reads the merchant, date, total, tax, and line items and categorizes each one, so your records are organized and searchable without manual filing.