Tax season is a dreaded time of the year. And for freelancers, independent contractors, and sole proprietors, it’s an even bigger headache.
Bookkeeping responsibilities and business tax management fall solely on the shoulders of the self-employed.
Making life easier for Etsy sellers, Uber drivers, Avon consultants, and online writers, QuickBooks Self-Employed is software that mainly accommodates those required to file a Schedule C during tax time.
The cloud-based QuickBooks Self-Employed plans are accessible from any device; all you need is an Internet connection. It only takes a couple of minutes to become a subscriber.
Connect a bank account, and you’re good to go. Beyond side-stepping the confusion and chaos of last-minute tax preparation, QuickBooks may also help you become one of the many users discovering an average of $4,628 in potential savings per year.
Spectacular discount alert: Save up to 70% on QuickBooks Self-Employed and celebrate the Fourth of July with a deal sure to ignite business success with the following incentives.
What Are the Benefits of QuickBooks for Small Business Owners
Easily Save Receipts in a Snap
Outstanding app features and a clean dashboard with simplified navigation make QuickBooks Self-Employed one of the most user-friendly, business-tracking tools on the market. Easy to locate what you need, you’re usually one click away from reviewing last month’s transactions, daily mileage, annual tax information, and profit/loss reports.
Another worthwhile benefit: Save space, time, and your sanity by using a smartphone to take snapshots of expense receipts that you can digitally sort and link to specific transactions within QuickBooks. With everything you need to file taxes in one place, you stay organized and prepared the next time you have to settle up with Uncle Sam.
Invoice Notifications and Automations
The QuickBooks Self-Employed client portal is a one-stop shop that facilitates the effortless creation, submission, and tracking of invoices.
You’ll be able to see when a client views an invoice, as well as get alerts when customers pay up.
Users can also:
- Send on-the-go invoices from a smartphone
- Customize invoices with a logo or tagline
- Create partial invoices for multi-tiered projects
- Relay friendly payment reminders
- Issue sales receipts to clients
And, with the ability to accept credit cards and free bank transfers (within the client portal), this convenience significantly increases the likelihood of getting paid faster.
Automatically Record Milage Logs
QuickBooks Self-Employed automatically records mileage and logs business-related travel activities.
An in-app, GPS-fueled tracker pinpoints the beginning and end of trips, which you can later classify as ‘business’ or ‘personal’. Come tax season, let the software calculate your total mileage deduction (based on the IRS mileage rate for the current year) and then export the digital account of your business-related travel when you’re ready to file.
Furthermore, the savings don’t end with gas and travel hours. That busted transmission you fixed last week, car insurance payments, parking fees, and road tolls all qualify as expenses that QuickBooks Self-Employed sorts into tax-deductible subcategories.
Automatic Bookeeping Transactions into Tax Cateogries
Gearing up for the holiday rush? Increased your advertising budget? Had a rough July?
With QuickBooks, you are better equipped to monitor and modify the direction of cash flow when needed. Having access to software that effectively tracks income and expenses means you know precisely where, how, and when you net and spend your hard-earned dollars.
The software ‘learns’ your settings; automatically sorts purchases into the appropriate tax categories; creates valuable profit and loss reports; and securely imports business transactions from your bank, credit cards, PayPal, Amazon, Square, Etsy, and many other third-party merchant sources.
Automatic Quartley Tax Due Dates Reminders
Freelancers and small business owners no longer have to guestimate quarterly taxes.
QuickBooks Self-Employed does it for you, providing estimates of what you owe so that you can make payments on time each quarter.
And, don’t wait until the end of the year to figure it all out; use QuickBooks’ automatic reminders of quarterly tax due dates to prevent unnecessary late fees and penalties.
Simplify the Entire Tax Filing Process
Not only is QuickBooks Self-Employed a timesaver for independent contractors and freelancers, but the company’s more extensive Tax Bundles (with built-in integration to TurboTax) further streamline the process of filing taxes.
Available with or without live CPA assistance that provides advice and a line-by-line review of your returns, you’ll also enjoy a smooth transfer of information and federal/state return filings included in each bundle.
Once you have QuickBooks Self-Employed tracking your every debit and credit, don’t forget to download our Giving Assistant button so you can save money on the goods and services that will help your business bring in the green.