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Is saving every single little receipt from the ATM important? If you save these, then don't they accumulate over the years and become clutter? Is there a way to save them and not have them turn into one big pile over the years? I've heard saving them is supposed to be important but never have because they accumulate and turn into a mess. I'm just curious as to what other ppl do regarding this.
 

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It's arguable. I don't, but I know people who do. If it's for anything related to business (whether corporate or sole-proprietorship) or anything used for deductions, then the IRS requires you keep receipts for a certain number of years.

Here's a service that you may want to look at:
https://www.shoeboxed.com/index.htm
 

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I don't think it's important at all. ATM receipts also don't have any identifying information on them so they're really just for your personal use. I usually just toss them or even press on the ATM that I don't want one.

Drew- if you have a business then yes you need to save your business related expense receipts. But ATM receipts don't even say what they're used for. For example, if you withdraw $200 and use it to buy some wood panels for a job, how would anyone know this from the ATM receipt? You need the receipt from the business (not the ATM) you transact with. And you should save your bank statements for any IRS related thing. If you hand over a pile of ATM receipts to an IRS auditor that doesn't help them in any way.
 

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For ATM Receipts, I check them against the monthly statement and if they match I shred them. I don't think that you would ever need ATM receipts for tax purposes, since it only shows an amount taken out and not what it was for.

Here's a good resource for most documents.

http://www.bankrate.com/brm/news/mtg/20000518h.asp
 

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I don't think it's important at all. ATM receipts also don't have any identifying information on them so they're really just for your personal use. I usually just toss them or even press on the ATM that I don't want one.

Drew- if you have a business then yes you need to save your business related expense receipts. But ATM receipts don't even say what they're used for. For example, if you withdraw $200 and use it to buy some wood panels for a job, how would anyone know this from the ATM receipt? You need the receipt from the business (not the ATM) you transact with. And you should save your bank statements for any IRS related thing. If you hand over a pile of ATM receipts to an IRS auditor that doesn't help them in any way.
You're right. Good point. I was thinking more of the debit card transactions that some businesses prefer because of lower discount rates than when processed as credit cards.
 

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I'd say toss them after checking them against your monthly bank statement.

I've never had to deal with ATM receipts as I've never used an ATM. I use HTP -- human teller persons though they produce a similar receipt that I toss after checking it against my statements.
 
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