Anyone Keep Their Receipts for "Semi-Important" Stuff?

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Discussion Overview

The discussion revolves around the practice of keeping receipts for various categories of purchases, specifically focusing on what participants consider "semi-important" items such as medical expenses and large purchases. The conversation explores personal strategies for record-keeping and the perceived importance of different types of receipts.

Discussion Character

  • Exploratory
  • Debate/contested

Main Points Raised

  • One participant categorizes receipts into three levels of importance: unimportant, semi-important, and important, questioning the necessity of keeping receipts for semi-important items.
  • Another participant keeps receipts for tax-deductible items and significant repairs but admits to being less organized with non-tax-related receipts.
  • A third participant mentions that despite having major medical expenses, they did not reach the threshold to itemize deductions on their taxes.
  • One participant argues that keeping receipts for large purchases like TVs and computers is essential for potential returns or warranty claims.

Areas of Agreement / Disagreement

Participants express differing views on the necessity of keeping receipts for semi-important items, with some advocating for retention due to potential future needs while others feel less concerned about medical receipts due to existing record-keeping by medical offices. No consensus is reached on the best practices for managing these receipts.

Contextual Notes

Participants' views are influenced by personal experiences and varying definitions of what constitutes "semi-important" purchases, leading to a lack of uniformity in their approaches to record-keeping.

kyphysics
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I roughly define the levels of importance as follows:

Unimportant: fast food, gas, hair cuts, small discretionary purchases (like candy, magazine/book, sun screen lotion, etc. at Target/Walmart)
Semi-Important: medical (doctor's visit, lab, imaging, etc.), large/expensive purchase item (computer, flat screen TV, furniture, etc.),
Important: IRS/taxes, court/legal fees, insurance premium payments

The first category, I throw receipts away all the time for. But, what should we do with the "semi-important" category?

Anyone keep receipts for stuff like this and, if so, for how long? For example, if I got an MRI, should I expect the MRI place to keep records for me and to not to have to keep a receipt copy (or even MRI report copy)?
 
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I keep receipts for anything that is tax deductible plus those for things like appliance repair, major car work, etc. I'm really good about the tax deductible stuff but not so organized for the rest and sometimes forget to save them.

Medical stuff I don't worry about at all because the docs' offices all keep detailed records and the medical group I go to puts everything online.
 
Just did my taxes, major medical expenses in 2021, never got to the "minimum" necessary to itemize deductions.
 
I would most definitely keep receipts for TVs, computers etc. What happens if you need to return the item due to being faulty? You'd need the receipt.