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At the end of every month or year, dealing with boxes of receipts is a hassle. The solution is a quick five-minute hack to solve the receipt problem. Mike Mancini, a business expert, shares his experience of collecting receipts for various expenses like lunches and client meetings. By throwing all receipts in a box, it becomes overwhelming during tax season. Additionally, receiving multiple receipts via email daily adds to the burden of organizing them. The hack aims to simplify the process and make tax season easier.