The countdown to Tax Day has begun. If you earn money from a side hustle or gig, then it’s time to organize those receipts, track those miles and maximize every deductible you can. This can be a daunting task if you haven’t found the right tool to organize your finances. But, the right organizational tool or app can help you get ready for 2019 taxes and beyond. Here are five to explore.
Cost: Free to $8 per month depending on the plan
Track your expenses and mileage and record your revenue with Everlance. This app uses GPS tracking to triangulate your position in real time while you drive. After each ride, you can view the route, distance and estimated savings based on the IRS standard mileage rate. You can classify drives as work or personal by swiping right or left. To automatically add expenses, link your bank account or credit card to the app. You can also manually add revenue as you earn it. When it’s time to file your taxes, you can create an IRS-Compliant report for a tax professional or your favorite tax software. Everlance also integrates with Xero and Freshbooks.
Cost: Free or up to $7.99 a month depending on the plan.
Hurdlr tracks your mileage, expenses, income and tax deductions in real time. This app is built for self-employed entrepreneurs, freelancers, drivers, couriers and other people who earn money in the gig economy. It runs in the background of your phone and tracks your mileage with auto start and stop. Hurdlr also partners with Uber, which allows for seamless data integration. For expenses and income, Hurdlr will securely link to your bank and credit card accounts and track transactions. Besides to Uber, Hurdlr also connects with American Express, Freshbooks, Mastercard, Square, Stripe, Upwork, and Visa. The automatic tracking allows you to see your real-time finances, the taxes you owe and when to pay. When tax time comes, you can quickly file your taxes in the app or send reports to your CPA.
Cost: Starts at $29 a month
Get rid of that stack of receipts, business cards and other paper with Shoeboxed. This website, app and mail-in system allows you to go paperless and digitize your data. For receipts, you can take a photo of the document with your phone and upload it to Shoeboxed. Or, you can put it in a Magic Envelope and mail it to Shoeboxed for free so that they can scan it. Shoeboxed will also scan business cards and extract the data into an online contact list. Shoeboxed uses scanning, OCR and human data verification to categorize and organize your information. For mileage, the app uses your phone’s built-in GPS for easy, accurate tracking. Shoeboxed also integrates with QuickBooks and Xero.
Keep track of your income easily and find new ways to earn money with Steady’s Income Tracker. Steady securely and privately links to your bank and credit card accounts to track your earnings. It lets you focus on how much you are earning and the sources. Unlike other finance tracking apps, Steady analyzes your income and helps you plan for the future. If you have a potential gap in revenue, Steady can help you find another gig in advance. Steady will also recommend work opportunities based on your location, skills, and preferences.
Cost: $10 a month or $17 per month with TurboTax included
QuickBooks Self-Employed streamlines tracking expenses, mileage and income, and filing taxes. This software works especially well for individuals who have one bank account for income and expenses, no matter the source. It will automatically track your expenses by remembering the settings and categories you create. Through QuickBooks Self-Employed, you can also track your mileage via your phone’s GPS. For taxes, QuickBooks Self-Employed will estimate the amount you owe quarterly. Or, you can buy a bundle that includes TurboTax and will allow you to file federal and state taxes directly.