Xero TaxTouch App
Xero announced on Tuesday, March 8th, the release of Xero TaxTouch, a mobile app for freelancers. Xero TaxTouch is live and available on the iOS App Store.
Per Xero's announcement details:
Xero TaxTouch is built for on-the-go use and pairs bank feeds with popular swiping motions – a combo that lets users easily separate and classify their business expenses – while also generating real-time estimates of earnings and tax.
Designed for freelancers and Schedule C filers, Xero TaxTouch provides the ability to connect with bank and credit card accounts for import and classification of transactions as personal or business.
Built-in features provide for the abiility to estimate income tax obligations durng the tax year. We advise you to check with your tax accountant on the setup of these opitons to increase the relative accuracy of the estimates generated by the app. Estimates of tax obligations provided by the app can minimize the surprise of tax balances due at tax filing.
Xero TaxTouch also allows for exporting of details for Schedule C preparation. Your accountant will appreciate the summary reports. What's even more awesome is.... no more providing a shoebox of receipts to your accountant! However, don't overlook the importance of maintaining reciepts as part of IRS documentation requirements.
We're excited to give Xero TaxTouch a try and hope you will also. There is a 90 day free trial. To learn more, visit Xero's website.