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Mike Mancini shares a quick five-minute hack to manage overwhelming receipts accumulated monthly or yearly. With a busy lifestyle, he collects numerous receipts daily from various activities, leading to piles of disorganized paper to sift through during tax season. Additionally, he receives multiple receipts via email that often require printing and filing. To streamline this process, he emphasizes the importance of an efficient system for receipt organization, helping to alleviate stress when preparing for tax season and ensuring smoother interactions with accountants.