#4 I do something similar to what each of you are doing. I personally can’t decide which receipts are worse, Home Depot or those flimsy tractor-feed ones from Dixieline.
Anyway, for the home depot receipts, I’ll fold them in such a way that only the relevant info is visible (to save space) and then tape them onto three-hole-punched 8×11 card stock that goes into the binder. If I’m buying for multiple rental units, I’ll try to separate the items at the register, because each property has its own binder. I theory I could then scan these pages, but I’ve never bothered. I just put ’em in the binder. I should go back about ten years and see how they’re holding up.
My tax preparer never sees the actual receipts – I enter them into an Excel sheet and he works from that. Actually, I’ve been at this long enough that my excel sheet then generates a trial Schedule E. Usually he goes with those numbers, although occasionally he’ll make a correction for an item that needs to be depreciated and not expensed, or vice versa.
