06/05/2026
It would be realllly nice if the IRS had a cute little decisions tree for what receipts a business needs to keep...
But, they actually donât give a *ton* of guidance on receipts.
A few things theyâre sticklers on:
The IRS wants you to keep receipts for all lodging (hotels, Airbnbs, etc) while on business travel.
For any purchases of $75 or more of other business travel, non-entertainment meals, gifts, or transportation? Keep those receipts, too.
Otherwise, the IRS wants records of the date, amount, payee, proof of payment and business purpose of your purchases.
Account statements and good bookkeeping can help substantiate your business expenses.