getting organized this year

The first week of 2019 has come and gone already. But it's not too late to set up some new online tools to automate some of the boring tasks of bookkeeping and record keeping. Let 2019 be the year that the robots and pocket computers SAVE (instead of suck) your precious time!  
 

QUICKBOOKS SELF EMPLOYED

Intuit has a new (cheaper) version of Quickbooks Online built just for self employed individuals. It's mostly phone/app based where you can link your bank account and easily swipe each transaction into categories of business expense OR to a Personal category. It also has a built in mileage tracker and allows you to take photos of your receipts and send them quickly to the cloud for storage. Starts at $5/month for 3 month trial. 
 

QUICKBOOKS ONLINE (ESSENTIALS OR PLUS)

For partnerships , corporations, owners of multiple rental properties or businesses with inventory and/or more complex invoicing/billing issues, we'd still suggest using one of the more robust Quickbooks Online versions as they have more features (class tracking for properties, invoicing with built in payment options, inventory, etc..) and the needed Balance Sheet information for business tax returns.

Intuit offered us a special pricing on first five clients we sign up this year under their new Accountant Wholesale option. Cost is only $25/month (regular pricing for PLUS version is $60/mo) for life of subscription. It has to be a new subscription, so if you want to set up new company file OR convert from Desktop version, email us and we can help you set that up! As wholesale client, billing and setup would be through Fox Tax. Initial hour of setup is included in monthly subscription. Further training/setup is available, but subject to additional $75/hour consulting rate.

MILEIQ

Mileage: It's everyone's least favorite tax tracking item, so let the GPS machine in your pocket do all the work! So far, MileIQ is our favorite mileage tracking app.  It tracks your motion and lets you swipe Left for Business and Right for Personal, and it starts to remember and memorize common drives. You'll find that the miles add up faster than you'd expect and this app will pay for itself in the added tax deduction. This link also gets you a 20% discount for first year.* NOTE: If you get the Quickbooks Self-Employed version above, that also has a mileage tracker in it, so that's kind of a 2-4-1 and you wouldn't need this one.
 

PREPARING 1099-MISC FORMS

If you paid anyone $600 or more for services performed for your business or rental activity, you need to file these with the IRS by January 31st.  Greatland Yearli software online is about the cheapest and easiest way we've found for you to make these.*

We invested in some new online tools as well this year! 

Click here to schedule your appointment with Your Accountant.   

We hope to see you soon! Happy New Year!

The Fox Tax Team