Xero TaxTouch app allows users to automatically download bank and credit card transactions from major U.S. banks and credit cards, and provides an easy way to track business expenses and maximize business tax deductions. With one tap, the app generates a report detailing Schedule C data, making it faster and easier for freelancers and their tax professionals to prepare yearly tax returns.
Jamie Sutherland, Xero's General Manager, gave me and Murph a "first look" at the app recently. Based on what we saw, the app is simple to use and easily allows users to separate business expenses from personal expenses by swiping right for business or left for personal. Xero TaxTouch brings an end to costly surprises by estimating quarterly tax payments and helping to continually track business-related earnings. It also helps freelancers save money by categorizing expenses according to IRS-approved business deductions categories.
Xero TaxTouch is priced at $5.99/month, or $29.99 for the first year and will be available for download on iOS from the App Store on March 8, 2016.
You can watch a short animated video of Xero TaxTouch by CLICKING HERE.
Xero is beautiful, easy to use online accounting software for small businesses and their advisors. The company has over 600,000 subscribers in more than 180 countries. Xero boasts more than 500 third-party integrations and was ranked No. 1 by Forbes as the World's Most Innovative Growth Company in 2014 and 2015.