There are plenty of websites, apps, and programs claiming to make your tax time a breeze this financial year, but how do you decide which one is best for your needs? These four apps will help keep your tax documentation in the one place, so that you can start organising early this year.
ITP Qld’s Tax Return Checklist helps you to know exactly which documents you’ll need to lodge your tax. Get ready for tax season easily with an interactive list of everything you might need for your individual tax return.
2. Google Drive
Keep all your digital files in the one place with Google Drive, where you can store up to 15GB for free. Have access to all of your documents wirelessly on your computer or smart phone and feel secure in knowing all of your most important documents are stored in the one safe place. Make folders and categorise documents depending on relevance to your tax or scan hard copy paperwork to the Drive and have access to it whenever you need it.
Expensify is an online budgeting tool that allows you to take photos of receipts and store them online. It’s available both online and as an app, so you can always have it with you when it’s most convenient. The app automatically scans your receipts and recognises which expense category the purchase belongs to. You’ll never forget to keep a record of a business expense again.
One of the best ways to simplify your tax time is to start planning early. Make a financial plan at the beginning of the year, and stick to it until tax time rolls around. The online program, Mint, provides an interactive budgeting program to help keep track of your expenses on a week by week basis.
Take a look at each app and see which option suits your needs best. Keep an eye out for next week’s blog post on why keeping records and documentation is so important to tax time.
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