Taxpayers breathed a sigh of relief after the April tax return deadline. Another year of difficulties collecting receipts and calculating expenses has passed.
However, tax season doesn’t have to be a frantic rush to collect tax records. Instead of waiting until next spring to organize, start now. With mobile apps, you can quickly and easily set up automated systems to capture the information you need for the next year.
If you are going to use an app, though, be sure to use it consistently and completely throughout the year. An app is only useful if it has been updated regularly and contains complete information about finances.
If you’re ready to make next tax season the easiest one ever, here are 10 apps that can help you out.
Simplifi by Quicken.
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step mileage and tax tracking.
Mint is best known as a budgeting app that helps people track expenses and measure progress toward their financial goals. However, it also ultimately collects data needed for tax returns, such as expenses for certain deduction categories such as medical bills and charitable donations.
These reports can then be used to prepare your own taxes or given to an accountant or accountant. Because Mint can be linked to multiple financial accounts, it can be a handy way to create a complete picture of your yearly spending.
The basic version of Mint is available for Apple and Android devices, but Mint Premium is currently only offered for iOS. Cost: $
: Free for the ad-supported basic app, $4.99 per month for the ad-free Mint Premium app.
READ: Tax Preparation Checklist: Gather these forms before filing your tax returns.
Optimized by Quicken
Like Mint, this app aims to bring all aspects of your finances together in one place. Quickens Simplifi can sync with multiple accounts including bank, investment, credit card and loan accounts to provide a complete financial overview useful throughout the year.
“With fully customizable categories, users can create their own categories, tags, and tax reports to track all deductible expenses,” says Lee Decker, content manager at Quicken.
As long as users classify and tag transactions throughout the year, it’s easy to calculate the total amount of expenses at tax time.This can be especially useful for freelancers and freelancers who need to keep track of home office, travel, or utility costs.