What documents do I need to keep in order to do my taxes?

Keep detailed records of your income, expenses, and other information you report on your tax return. A good set of records can help you save money when you do your taxes and will be your trusty ally in case you are audited. For businesses, receipts for any purchase or expenditures should be kept. An electronic copy is acceptable. For individuals, w-2s, 1099s, mortgage interest statements, receipts for charitable contributions and any other documentation needed to report income and deductions.