You know that anxiety-provoking situation that arises every year. The clock is ticking until the tax deadline. With just a few weeks left until the filing date, you’re facing a mountain of receipts for taxes and wondering how to get them organized as quickly as possible.
Well, the good news is that, if you’re in that situation now – even if you haven’t started tax preparation yet – it’s possible to finish the process quickly, easily and accurately.
And if you’re not currently in that situation, then the good news is that you never have to end up in it again.
So what’s the secret to swift, painless taxes?
Using a digital receipt scanning service like Shoeboxed to help you.
Forget hiring a Virtual Assistant or spending hours upon hours poring over deductions and write off’s.
With Shoeboxed, you can save hours of time on your taxes by letting their human verifiers scan, digitize, and organize your receipts for you.
Here’s how it works.
Step One: Scan Your Documents
Whether you have piles upon piles of paper receipts, or a single folder just for saving receipts for taxes, Shoeboxed will scan and digitize everything for you.
Magic Envelope
Use one (or five!) of Shoeboxed’s convenient Magic Envelopes to rid yourself of paper clutter in seconds. Simply toss everything into the envelope, drop the envelope in the nearest mailbox, and check your account a few days later.
Every single receipt, business card, bank statement, and tax-related document will be scanned and uploaded to your secure Shoeboxed account – all without you having to lift a finger!
Smartphone App
You can also use the Shoeboxed smartphone app to scan receipts right from your phone.
Open the app on your phone, snap a photo of your receipt, and Shoeboxed automatically populates your account with all pertinent information including the purchase amount, date, location, and tax category.
The smartphone app is a great option for staying organized throughout the year. Instead of letting paper clutter build up, simply scan your receipt the second you get it, then recycle it and go about your (paper-free) day!
Step Two: Organize Your Receipts
Once your receipts are digitized within your Shoeboxed account, double check to make sure they’re assigned to the proper tax deduction categories.
Shoeboxed technology does this automatically, i.e. assigning airport receipts to the “business travel” category, but it’s a good idea to double check for accuracy.
You should also assign tax categories to any receipts labeled “uncategorized” in your Shoeboxed account.
Step Three: Report Your Results
Here’s where the magic really happens. Once your receipts for taxes have been scanned and organized, use Shoeboxed’s one-click reporting tool to calculate your deductions instantaneously.
You can export itemized receipts with assigned categories to a variety of different accounting applications, including Quickbooks, Evernote, Outright, and more, or simply export everything to an Excel or Google spreadsheet.
The reporting option makes it easy to share your itemized receipt totals with your accounting professional, calculate the results, and instantly obtain write-off amounts for each business deduction category.
The next time you prepare to do your taxes, there’s no need to spend hours analyzing bank statements and shuffling through paper receipts.
Use Shoeboxed to scan, digitize, and organize your receipts to finish your taxes faster than you ever thought possible!