![]() If you lack a suitable smartphone camera, you can mail your receipts to Shoeboxed for processing emailed receipts always get the “forward” treatment. Shoeboxed is another lightweight, mobile-friendly receipt scanning app that boasts “IRS accepted receipt images” (basically, high-quality files) and a fully searchable database. Both apps are free Wave only charges for online payment processing and payroll, which many Indies don’t need. Receipts by Wave comes with unlimited receipt-scanning privileges and integrates seamlessly with your Wave accounting app. You can categorize scanned receipts as you see fit at minimum, you’ll want to separate business and personal expenses. There’s no need to print and scan emailed receipts - just forward them to and let the app work its magic. The app presents each scanned receipt for your approval and syncs with the cloud as soon as you give the okay (or, in offline mode, as soon as you’re connected to the Internet again). Receipts by Wave is a mobile receipt scanning app that lets you snap and scan physical payment records on the go. All are free to try, though Indies with extensive or complicated expenses may want to upgrade to a paid plan. Indies love these well-regarded receipt management apps. Next, get an app (or two) to manage your business outlays - and ditch once and for all that chaotic, overflowing shoebox you call a receipt organizer. This is the cornerstone of any independent professional’s accounting system, and an essential defense against both tax trouble and personal liability for business obligations. Start by erecting a wall between your business and personal expenses. ![]() ![]() There’s a better way to track and manage your business expenses. Many Indies throw business-related receipts in a shoebox, hoping against hope they’ll be able to make sense of them come tax time.ĭon’t be like them. If you can’t prove you incurred a particular business expense, you can’t deduct it. “Seems about right” isn’t good enough for the IRS. You must keep thorough records of all deductible business expenses incurred throughout the tax year. The IRS has an extensive primer on the various types of deductible business expenses here - check it out, if you haven’t already. Even if you’re not formally incorporated as a single-member LLC or S-corp, you’re permitted to deduct a raft of business expenses when calculating your net income (profit) for income tax purposes. ![]()
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