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Mike Mancini shares a five-minute hack to manage receipts more efficiently at the end of each month or year. He discusses his struggle with accumulating numerous physical receipts from lunches, client meetings, and various expenses, which he typically tosses into a box for later sorting during tax season. Additionally, he receives five to six digital receipts daily, which often require printing and filing. This cluttered approach leads to stress when preparing for his accountant, resulting in a chaotic collection of folders. The video aims to simplify this receipt management process, making it easier to handle for tax preparation.