The excitement of the New Year has waned and tax season is here. For most business owners, tax season is an annual hassle, but we scouted out 4 high quality mobile apps that streamline the tax preparation process for small and medium-sized business executives.
Use Shoeboxed to keep a detailed account of business expenses throughout the year. It’s never too late to start keeping track of your expenses, receipts, and bills, and with Shoeboxed, it’s as easy as taking a photo of your documents.
This free app, available on both iOS and Android, automatically extracts vendor information, date, payment type, total, and more. Shoeboxed spares you the hassle of having to sort through endless paper receipts, bills and invoices or hiring a bookkeeper to sort those documents for you.
For larger enterprises, Replicon offers a hassle-free solution for business owners who need to track multiple employees’ expenses. Replicon’s mobile app captures and syncs data between Replicon’s suite of software services, and boasts a client roster like the Associated Press, Dropbox, Yelp, Orbitz, Motorola, General Mills, TD Bank, Sears Holdings, DeVry University, Cornell University, FedEx, HP… you get the idea.
For larger companies that need time-tracking and expense management on the go, this app lets you easily organize and search through a large quantity of documents from anywhere so when specific questions pop up during tax season, you’re just a tap, tap and a click away from the answer.
Tax Answers by H&R Block will help you answer quick tax questions on the fly. This app isn’t a real groundbreaker but it makes up for it with great usability and streamlined access to Frequently Asked Questions for tax season. Whether you need to estimate your tax obligation or refund, spin out a quick checklist of the documents you need to complete your taxes, or have questions about bizarre tax terms and little known tax regulations, this is a great tax reference app to keep in your pocket (and on your phone.) This app is free for iOS and Android.
IDonatedIt tracks your charitable donations so you get the maximum allowable deduction for your contributions. You already know that your charitable contributions are tax-deductible. These deductions lower your taxable income, so donating seems like a no-brainer, but keeping track of these donations can turn into a job of its own.
IDonatedIt, also free on iOS and Android, keeps track of your non-cash items donated to charity, including the date of the donation, the charity donated to, and the fair-market value of the items or services donated. Come tax season, you’ll have an IRS compliant, ready-to-go tax record of your contributions. This app will also let you attach photos of your donated items and email the detailed donation report to yourself or an accountant.
Remember, these mobile apps aren’t a complete tax preparation solution: depending on how large your business is, you might have a full-time bookkeeper, a seasonal tax accountant, or even an entire accounting department. Collaborate with your tax professional and your other financial partners to develop a system of expense tracking that works best for your business. Most likely, at least one of these apps will find a happy home in that process.