The QuickBooks Self-Employed team 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 with a swipe, users can see what deductions they’ve earned. Every 1,000 miles driven can produce up to $500 in deductions, but the IRS needs to see all trips, both business and personal.
Additional product features include:
- Expense and income management on auto-pilot via secure bank and credit card connections to automatically categorize transactions, making it easy to see total income, expenses and profit.
- Distinct business from personal expenses detanglement so freelancers can separate business from personal transactions by simply clicking a button, or swiping a finger across the mobile app, instantly categorizing IRS Schedule C deductions.
- Expenses turned into deductions feature auto-categorizes expenses – such as mileage, phone bill and supplies – into the right deduction categories to help freelancers save on taxes.
- Easy quarterly and year-end taxes for freelancers so they can instantly see if they need to make quarterly tax payments so that they can budget appropriately.
In addition to the new feature, QB Self-Employed announced six new partnerships with eBay, FlexJobs, Incorporate.com, Kelly Services Moonlighting and the National Association of Hispanic Real Estate Professionals (NAHREP) that will improve the financial lives of thousands of independent workers. These new partnerships will give self-employed workers access to discounts on both QuickBooks Self-Employed and the QuickBooks Self-Employed Tax Bundle, and with these additions, QuickBooks Self-Employed has established partnerships with 19 leading on-demand and talent marketplaces.