Put part three in a numerical file for later viewing by IRS and reference by you. Keep Form 1099 information separate. Any deposit that you make that would not normally be included in a 1099 or W-2 should be copied. Thus, if you get a large gift, insurance reimbursement, or transfer money from one account to another, make copies of the checks. Failure to do so may result in the IRS treating the deposit as income.
HOT TIP Save every receipt, whether personal or business, for all money spent.
It's virtually impossible for you to know all of the receipts you are required to keep. Since you don't know what's important and what's not, it's safest to save everything for at least three years. Remember, you carry the burden of proof. It's rare that you can establish proof retroactively. The charge card copy acts a receipt for your travel, entertainment, and gas and oil purchases.