How are you tracking your business related expenses? Do you even have a good idea what you can claim as business expenses and how are you keeping track of your car mileage?
I just came across a fantastic program that explains just about everything you need to know about business tax, with the most user-friendly tracking that I have seen in a while. Business expenses can quickly spiral out of control when you don’t have an adequate record tracking or keeping system in place.
My husband and I are currently using “Taxbot“ and are amazed at the information we have at our fingertips and the ease of tracking mileage. It’s fun. I’m enjoying watching my business expenses tally and getting all the tips about what we can claim as business related tax expenses at tax time.
Taxbot helps to track and organize expenses with a simple and easy to use tracking tool, it also provides members access to valuable information and explains how to get the most out of your tax return. With Taxbot, you can go into tax season with a few complete reports instead of a shoebox full of receipts.
With a simple to use interface, Taxbot is a good solution for small business expense tracking. Making it easy to track business expenses, including business & personal mileage, using your laptop or phone. This expense tracker keeps a running total of the potential savings you are accruing by documenting your deductible expenses.
The mileage tracking uses your phone’s GPS capabilities, with an auto-tracing feature it logs your miles. At the end of a trip, or whenever you have the time, you enter in if it was for Personal or Business and it allows you to type in the description of the business journey.
Taxbot integrates with 10,000 financial institutions and automatically imports most details about the transaction, like date and category, but you have the ability to add new details and attach a photo of the receipt.
-Suggests description for your unclassified trip from items on your calendar.
-Automatic mileage tracking
-Records business expenses by category. That digitally stores your receipts in the cloud.
-Allows you to print AuditSafe reports at the end of the year.
-Track multiple businesses and vehicles with the same account.
-Get access to exclusive online training library with a bunch of IRS secrets from North America’s #1 Tax expert, Sandy Botkin, CPA, ESQ & former IRS trainer.
Taxbot is $100 per year or $10 per month and of course, you can write that off as a business expense. Sign up today for a one-month free trial.
Disclosure of Material Connection: Some of the links in the post above are "affiliate links." This means if you click on the link and purchase the item, I will receive an affiliate commission. Regardless, I only recommend products or services I use personally and believe will add value to my readers. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255: "Guides Concerning the Use of Endorsements and Testimonials in Advertising."