Do I Still Need to Keep That Receipt for Taxes?

  • 26 May 2025
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*1 Credit hour to Payroll, Finance, Bookkeeping, and Bill Paying for CDMM® recertification. 

Many taxpayers keep every receipt because they “might need it if they are audited”.  Record Retention rules for tax purposes will be discussed including: What should be kept?  How? For how long?  Examples will be provided for both record retention requirements for federal tax preparation of individual tax returns, other types of tax returns, and state income tax returns.

What participants will learn:

  • General retention rules for federal income tax purposes
  •  What records should taxpayers keep?  And for how long?
  •  Differences between federal and state income tax laws (medical deductions, state and local tax deductions, charitable contributions, etc)
  •  How Federal and state tax law changes affect record retention guidelines

Intended Audience: Daily Money Managers with a good understanding of US individual tax returns.

Presenter: Katherine Ann Gudgel

Katie is an enrolled agent and specializing in seniors and trusts. Enrolled Agents (EAs) represent taxpayers before all administrative levels of the Internal Revenue Service. Since many taxpayers have difficulties just collecting all of their necessary tax documents, Katie joined AADMM and expanded her services to include Daily Money Management.

Note: Registration is for one entrant. Any other individuals who would like to join this session are required to complete their own registration forms. The registration fee is set per person, not per connection.

Confirmation: Registrants will be notified in a follow-up email.

Questions: Email AADMM Registration Office registration@aadmm.com.