Discover the biggest tax mistake that both landlords and business owners commonly make – neglecting their receipts. Learn why keeping track of receipts is essential to maximize deductions and prevent missed tax savings opportunities.
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The biggest tax mistake that I see, and this is across the board for landlords and business owners alike, is not keeping up with those receipts. If you don’t keep up with your receipts, you could be missing out on a lot of deductions. In most cases, no receipts mean no deduction. So, keeping up with the receipts is huge because you don’t know what you have to write off if you don’t keep up with those receipts.
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