Five Mobile Tax Apps That Can Help Every Business Owner
When tax time rolls around each year, many of us find the entire process to be utterly dreadful and full of difficulty. Many people know that the amount of wiggle room when it comes to mistakes is very little; one goof and your tax filing experience can become a nightmare. Fortunately, technology is making it increasingly easier to handle the concept of filing your business taxes without making any big errors. Accessible through your mobile phone, for instance, are a number of applications that can make the process much simpler. Below, we’ll outline five mobile tax apps that every business owner should be using to keep track of expenses and deductions throughout the year.
For Simple Answers
Tax Answers by H&R Block is a free app that helps sort through some of the most common questions when it comes to filing your taxes. Whether you are unsure of which particular forms you will need to file or whether e-filing is an option, the app centralizes all of these questions into an easy to read format for individuals and businesses alike. Also included is a dictionary that explains all of the tax terms you may encounter while filing, and you can even get an estimate of your tax return or liability based on a few simple metrics.
For Charitable Contributions
If you are pinging on iPhone or iOS devices and need a way to keep track of any and all contributions made to charity or charitable organizations, then iDonatedIt is a great app to use. Within the app, you can track the market value of items that you have donated, as well as record the entries for easy access later. The application also allows you to use a camera phone to snap photos of the donated items and tag the entry with the photos in case they are needed.
For Receipt-Keeping
For those who rack up expenditures while on the go, Receipt Filter Lite for Android is a great way to keep tabs and document each purchase. You can photograph each receipt and store it directly into the app for future access, eliminating the need of keeping track of all that paper. With categorization options built in, you can separate each receipt based on its expenditure category.
For Tax Estimates
TaxCaster Mobile, an app developed by Turbotax, is a great way to get a customized idea of how much your refund or liability will be upon filing. While this only works for federal tax calculations, the app does give you great insight on the largest portion of your tax filing worries by simply entering in your deductions and income. Before you set down and complete all the necessary forms, try this app out to see what your business is likely to owe.
For All-Around Organization
If you need help organizing your daily expenditures all while keeping track of other metrics such as mileage logged and uploaded receipts, then Tax Tracker is a great solution for those pinging on iPhones. Offered by Pocketbook Professor, Tax Tracker turns tax time into a year-round process, giving you the ability to document your doings as you go. This makes filing much easier for businesses when tax time arrives.