GasBuddy cares about saving you money — whether that’s at the gas pump or in how you manage your business. That’s why we partnered with QuickBooks Self-Employed by Intuit®. They are experts in saving self-employed business owners time and money. With QuickBooks Self-Employed mobile app, users find an average of $4,340 in potential deductions! It’s clear they know their stuff when it comes to managing a business like a boss! Check out some of their top tips.
STAY ORGANIZED Staying organized is the most important step to managing your business and a big part of that is knowing your quarterly tax deadlines. ● January 15th |
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LOG YOUR MILES This year for every business-related mile you drive, you’ll receive 53.5¢ back in deductions. That means if you drive 10,000 miles in 2017, you’re eligible for $5,350 in deductions! (But only if you log your miles.) It’s easy to track your mileage with the QuickBooks Self-Employed app, just turn on mileage tracking, go where you need to go, and let the app do the work for you — you can even see how much each trip earned you in deductions. Did you know that every 1,000 business miles can generate $535 in tax deductions? Never miss another mile with QuickBooks Self-Employed mileage tracker. |
STORE YOUR RECEIPTS Declutter your glove box full of receipts and easily upgrade to the digital age. Use an app like QuickBooks Self-Employed to snap a photo of your receipts and store them for you. Come tax time, there’s no hunting and gathering of old crumpled what-was-that-for-again receipts. |
KNOW YOUR (BUSINESS) HEALTH Every business owner knows how important it is to have a grasp where the money’s coming from and going to. If you’re short on cash, you can decide to take on more projects or cut expenses. Or, if you’re in a surplus, decide how to invest back into your business — or take that well-deserved vacation. |
BE COMPLIANT It’s important that you stay compliant in your taxes — nothing will throw you off your game faster than fines, penalties or an IRS audit. The good news is if you’ve followed the above steps, tax time will be easy. Some tips to make taxes easier. ● Get educated early: Decide whether you’re going to try the standard vs. actual mileage expense and develop a plan to stay compliant throughout the year. |
Your car could save you more cash. Find on average $4,340 in potential tax savings per year with QuickBooks Self-Employed, a proud partner of GasBuddy.