Tax Hacks 2015: Here Are 15 Apps to Make Your Life Less (Income) Taxing

Tax Hacks 2015: Here Are 15 Apps to Make Your Life Less (Income) Taxing

  • Expensify: If you have a small business, Expensify might be right up your alley, although it could certainly work for individuals, too. The app lets users take photographs of receipts as well as import data from banks and credit cards. All that information is used to create and store organized expense sheets. Individuals can get a free account with 10 receipt scans a month. For anything more than that, sign up for a team account starting at $5 a month.
  • Slice: One final receipt organizer worth noting is Slice. This app is really intended to organize online shopping by recording purchases and tracking packages. That said, it could work for your tax records, too, if you make a lot of business-related purchases online. Slice links with your email account to pull and store e-receipt data. Best of all, Slice is free.
  • PowerWallet: PowerWallet is our pick for a comprehensive money management system. It links to your bank and financial accounts to track spending and organize expenses. You can also use it to create a budget and set up bill alerts. Power Wallet is free to sign up.
  • Apps to find deductions

    Once you have your receipts and financial records organized, you should be able to quickly pull up many of the numbers you need. However, there are also specific apps that can make it even easier to claim certain deductions.

    To squeeze a couple more dollars into your refund, try adding one or more of these apps to your smartphone.

    • MileIQ: If you travel frequently for business and have an iPhone, MileIQ may become your favorite new app. All you have to do is install it, and the app automatically tracks all your travel and logs it into reports that can be used for either a tax deduction or submitted for employer reimbursement.
    • MileBug: For those with an Android or Windows phone, MileBug does essentially the same thing as MileIQ. This app is available for iPhones as well and can create reports in either a CSV or HTML format.
    • ItsDeductible: Offered by tax software provider TurboTax, ItsDeductible is a free way to track your donations either online or on your iPhone. The app is set up to track everything from drop-offs at the thrift store to cash donations to mileage. For donated items, the app will even give you a suggested resale value to use when calculating your itemized deductions. TurboTax users can import data from ItsDeductible to their tax forms.
    • iDonatedIt: Another useful app for tracking non-cash donations is iDonatedIt. Like ItsDeductible, this app is only available for Apple devices. In addition to recording donations and their value, iDonatedIt lets you attach photos for documentation.
    • deductr: This final app really bundles up just about everything offered by the nine apps above and delivers it in one sleek interface. Deductr is a mileage tracker, an expense organizer and a time management system all rolled into one. It will also flag you about potential deductions based on your spending. There is also one other thing deductr is: expensive. It costs $19.95 a month or $199 a year, making this a best bet for small-business owners rather than individuals.

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Tax Hacks 2015: Here Are 15 Apps to Make Your Life Less (Income) Taxing

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