Splitting Receipts

[Baby Beluga]

I am trying to divide all of my expenses into categories. I have a few receipts that have multiple categories on them, for example one receipt has art and curriculum supplies and cleaning hygiene supplies. Do I just put it into the majority category or should I split it? If I split it, how do I split the taxes paid on the items?

[TomCopeland]

receipts

I am trying to divide all of my expenses into categories. I have a few receipts that have multiple categories on them, for example one receipt has art and curriculum supplies and cleaning hygiene supplies. Do I just put it into the majority category or should I split it? If I split it, how do I split the taxes paid on the items?

Don't split receipts. It's unnecessary. This is because all expenses eventually get lumped together on Schedule C. So, just pick one category and claim all the items on the receipt under that category.

[Baby Beluga]

Wonderful, thank you so much Tom!

[HappyHeartsChildCare]

So should I just have two folders? One for food and the other for supplies?

[TomCopeland]

expense categories

So should I just have two folders? One for food and the other for supplies?

You don't need a folder for food if you use the standard meal allowance rate because you don't need to keep any food receipts.