Apps for Tracking Expenses
The first challenge in taxes is wrangling all the receipts and expenses. These apps help you track this data for easy sorting and report creation at tax time. Several options allow you to scan receipts for easy data input. Don’t forget to track any expense you have related to these apps, as those are tax-deductible business expenses.
Expensify
Available for both iOS and Android—free and paid versionsTrack and report expenses, including travelUse SmartScan to input your receipt informationCreate expense reportsReimburse cash expenses
Everlance
Available in iOS and Android—free and paid versionDesigned with the IRS in mindEmail reports in PDF or CSVCustomize categoriesEasy to categorize trips for business and personalFree admin accounts
Mint
Available for both iOS and Android—freeTrack and manage expensesManage billsCustomize reportsCreate budgets
Shoeboxed
Available for both iOS and Android—$18-$54 a month, depending on your business needs.Scanning with OCR and human data verificationSend receipts and business cards in prepaid envelopes for entryArchive receipts from GmailIRS-accepted receipt imagesSend expense reportsWorks with other business tools such as Quickbooks, Wave, Evernote, and other apps
Apps to Manage Your Accounting
Along with tracking expenses, home business owners need to manage income, returns, invoices, and all the other financial tasks related to financial management. These apps can assist you in your overall accounting needs.
FreshBooks
Available for both iOS and Android—free trial, then $6.00 to $22 per month depending on client sizeInvoice clientsTrack expenses, bills, vendors and mileageAdd team members (additional cost)Accept paymentsScheduled late feesPayment reminders
inDinero (contact for pricing and app info)
Two pricing plans are billed annually, starting at $300 and $900Invoicing and online bill paymentEmployee reimbursementTax portalCustomized reportingMonth-to-date snapshotCredit card processing integration with StripeAccounting and tax help
Quickbooks Online
Available for both iOS and Android—offers a 30-day free trial, and then pricing is based on the plan and ranges from $15 to $100 a monthSend invoicesAccept credit/debit card paymentsRecord bills, purchases, and expensesManage payroll (additional fee)Run reportsIntegrate with many other online tools, including PayPal, Square, Shopify, and Gusto
Wave
Available for both iOS and Android—free for invoicing, accounting, and banking; paid versions for payroll (starting at $20) and advisors (starting at $149)Free invoicing, accounting, receipt scanningInvoice estimatesTrack invoices and paymentsAccept payment (fee)Track income and expensesPayroll tax calculationsPay employees or contractorsDirect deposit and online pay stubs
Apps to File or Assist With Taxes
For filing your taxes as a business, your best option is a platform that can integrate with your apps. Many of the accounting options above can work with tax software. Check with your app to find the ones it integrates with.
IRS2Go
Available for both iOS and Android—free serviceCheck the refund status of your returnMake checking account, credit card, or debit card payments to IRSFind tax prep assistance
TurboTax
Available for both iOS and Android—small business options start at $119 for federal filing (additional for state)Self-employed optionLive expert helpTake a photo of W-2 to import data into tax formsSmooth filing process that includes on-page explanations of what questions mean, as well as access to extensive support pages
The best way to make tax time easier is to start filing, tracking, and organizing your business-related financials into a digital tool that will provide reports, store receipts, and integrate with your tax software. Don’t wait. The sooner you start organizing, the easier your business money management and tax preparation will be.
