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Every month or year, the speaker accumulates boxes of receipts, causing a tax season headache. To solve this issue, they share a five-minute hack to organize receipts efficiently. The speaker, Mike Mancini, deals with numerous receipts daily from client meetings, lunches, and parking. They used to haphazardly throw all receipts into a box, leading to a time-consuming task during tax season. Additionally, they receive multiple receipts via email daily, adding to the chaos. This hack aims to streamline the receipt organization process and simplify tax preparation for business owners like Mike.