Miller Apolinario

One big mistake is not keeping receipts at all or relying only on memory. Another error is mixing personal and business expenses, which can create confusion and raise red flags with tax authorities. It’s also risky to store receipts in an unorganized way, like random emails, scattered photos, or folders without categories. Illegible, incomplete, or altered receipts can cause issues, especially when supporting deductions. Waiting too long to record expenses also increases the chance of losing...

Lack of fiscal organization is one of the main reasons taxpayers receive IRS notifications. Missing documents, inconsistent records, or untracked income can trigger audits and penalties. Stay ahead and keep your finances organized.

eCommerce and online sales: How to declare? If you own an eCommerce business, you must report all income generated from online sales. The...