There are many ways to track expenses, so you need to figure out what works best for you. Just don’t wait until April to start your taxes and then realize how many receipts you have accumulated throughout the year.
Start off with a binder to store and manually write down your receipts. The binder contains 12 folders, one for each month.
Once you have a nice way to save them and want to reach the next step, purchase Quicken Home and Business. You can start adding descriptions to the receipts so you can itemize them different ways. Come tax time, make a couple reports, print, and you’re done. It’s easier to spend a couple hours each month, rather than all of those hours during tax season.