New Mileage Tracking Feature and Partnerships to Help Freelancers Year Round
QuickBooks Self-Employed is constantly looking for new ways and opportunities to help freelancers manage their finances all year long. Today, we’re announcing six new partnerships with on-demand and talent marketplaces as well as an important new feature, automatic mileage tracking. With users finding an average of $3,809 in potential tax savings each year, there’s certainly a lot to be excited about. Here’s the latest.
New Mobile Feature – Automatic Mileage Tracking
For many on-demand economy workers, especially those in the driving and delivery markets, their entire world is contained within their phone. To best serve these always-on-the-go customers, QuickBooks Self-Employed includes both Web access and a mobile app, letting users choose whether to use one alone, or both together as data syncs automatically across devices.
Recently, Intuit launched a new automatic mileage tracking feature that eliminates the need to manually enter data about every mile driven. Instead, every trip is automatically tracked, and users simply need to swipe to see the deductions they’ve earned. Every 1,000 miles driven can produce up to $500 in deductions, but the IRS needs documentation of all trips, both business and personal.
QuickBooks Self-Employed has already helped users track more than 40 million miles, delivering more than $23 million in savings.
“Self-employed people face a range of challenges when it comes to managing finances – things like co-mingled business and personal expenses. That makes it hard to claim deductions, track of multiple income streams and adds to confusion about quarterly and year-end tax bills,” explained Alex Chriss, vice president and general manager of Self-Employed Solutions at Intuit. “We built QuickBooks Self-Employed to solve these challenges in a simple but powerful way so that self-employed people can effortlessly find financial stability.”
What Accountants Are Saying
Organized data and automatic mileage tracking helps more than the self-employed. It also helps the countless accountants, bookkeepers and tax professionals who prepare taxes for these clients. With bank-integrated client finances, tax pros no longer have to worry about sorting through shoeboxes of receipts or manual ledgers. Income and expense entries are clear, entered correctly and right where they need it, when they need it the most: at tax time.
“I have a deep personal passion to help the self-employed and have been partnering with several accounting software companies to find a simple, one-stop online accounting solution that fits my self-employed client’s needs,” said Mariette Martinez, a small business advisor and tax professional in Ontario, California. “The solution I recommend must provide the business fundamentals for any newly formed small business of one, and I found it with QuickBooks Self-Employed. I have been using it for over a year and my clients feel so excited to finally be in control of their finances. For me, it’s great to know I can trust all the data and reference it easily.”
Six New QuickBooks Self-Employed Partnerships
In addition to the new mileage feature, we’re also announcing six new partnerships that will give self-employed workers access to discounts on both QuickBooks Self-Employed and the QuickBooks Self-Employed Tax Bundle. The new partners include: eBay, FlexJobs, Incorporate.com, Kelly Services, Moonlighting and the National Association of Hispanic Real Estate Professionals (NAHREP). With these additions, QuickBooks Self-Employed has established partnerships with 19 leading on-demand and talent marketplaces.
What Partners Are Saying
“With over 75,000 freelancers moonlighting on our platform each month, it is imperative that we bring them a best-in-class financial solution,” said Jeff Tennery, founder and chief executive officer of Moonlighting, a nationwide mobile marketplace for people seeking short-term work. “Moonlighting is excited to promote QuickBook’s Self-Employed solution and help our users better organize their freelance income.”
“As a global workforce solutions provider, our talent supply chain management strategy includes leveraging key talent across all labor categories, including the self-employed,” said Leslie Stoner, independent contractor solutions global consultant at Kelly Services. “We are pleased to offer this critical component of our workforce access to Intuit’s QuickBooks Self-Employed software to assist them in managing their business practices more efficiently.”
“As we’ve seen at FlexJobs, professionals are working in freelance or self-employed job models now more than ever, in large part because there has been such growth in the variety and depth of jobs in these areas,” said Sara Sutton Fell, CEO & Founder of FlexJobs. “However, it’s not generally easy to navigate the tax and accounting details required of freelance work and self-employment, and so we’re thrilled to partner with Quickbooks Self-Employed to educate job seekers, freelancers, the self-employed, and all professionals about their options and responsibilities in this new economy.”
QuickBooks Self-Employed Product Highlights
Fueled by the on-demand economy and increasingly flexible ways of finding independent work, freelancers are expected to make up 43 percent of the workforce by 2020. QuickBooks Self-Employed is tailor-made to meet their unique needs. Comprehensive features let users:
- Simplify expense and income management: Securely connect bank and credit card accounts to automatically categorize transactions, making it easy to see total income, expenses and profit.
- Untangle business from personal expenses: Separate business from personal transactions by simply clicking a button, or swiping a finger across the mobile app, instantly categorizing Internal Revenue Service Schedule C deductions.
- Turn expenses into deductions: Automatically assign expenses – such as mileage, phone bill and supplies – into the right deduction categories to help save on taxes. On average, users identify $18,217 in potential deductions, and $3,809 in potential tax savings each year.
- Clarify quarterly and year-end taxes: Learn whether to make quarterly tax payments and budget appropriately. The QuickBooks Self-Employed Tax Bundle allows freelancers to pay quarterly and year-end taxes online with a seamless integration with Intuit TurboTax, the nation’s leading online tax preparation service.
For more information on QuickBooks Self-Employed, including pricing and availability, please visit https://quickbooks.intuit.com/self-employed/.