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This is your Deductr newsletter, which includes valuable tax tips and help on getting the most out of the tool.
March 2015

In This Issue

• Special Deductr Training: Wednesday, 3/18
Tax Ticklers
Managing Your 'Business Management'
Using Deductr's Reports for Your Tax Preparations

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Special Deductr Training!

How To Use Deductr While
Preparing to File Your Taxes


So you've been using Deductr and now you need to access those reports and gather all the info your tax professional needs to file your taxes. Deductr makes that easy peezy! 

We'll go through the reporting system in Deductr and how to get that info into the hands of your whomever is doing your taxes. Make sure you check your time zone for the proper time in your area.


Wednesday, March 18th
Click here to reserve your spot on the webinar.
 
Pacific 6:00pm
Mountain 7:00pm
Central 8:00pm
Eastern 9:00pm

 

Tax Ticklers


Ever heard of Tax Freedom Day? It’s the day of the year when the nation as a whole has earned enough money to pay its total annual tax bill. The day is currently April 21st, but it has historically never been this late in the year. In 1917, it was January 24th; World War I tax increases pushed the date out to February 8th in 1918, and then to February 22 in 1921. In the 1920s, when Justice Oliver Wendell Holmes described taxes as the price of civilized society, Tax Freedom Day was arriving in February. Now that it falls in late April, how civilized our society must be!



 

Managing Your
"Business Management"


How many “hats” do you wear on a given day as you run your business? Every business is made up of three major aspects, each requiring you to incorporate a different skillset and mindset: 1) Product and service; 2) Marketing and sales, and; 3) Business management. You, as an entrepreneur and small business owner, need to be able to jump between each aspect (or “switch hats”) at any given time based on the demands of your business. 

Usually the “product and service” aspect comes easy. It’s generally the reason you went into business in the first place. You have an affinity for a particular product or you are good at providing a service. Most successful entrepreneurs are also very good at the “marketing and sales” aspect of business. It’s this aspect of any business that keeps the cash flowing in and brings life to your business.    

How about that third aspect, the 'business management' side of your business? Does putting on this “hat” become increasingly difficult as your business grows? Deductr was designed to help you 'manage' this aspect of your business in a whole new way. Think of it as off-loading much of your deduction tracking efforts to automation, thus allowing you to expand what you can accomplish in the normal and ordinary course of your day. Deductr initiates the tracking activity when it automatically imports bank and credit card transactions. Then, like a personal assistant assigned to the task, it reduces your “touch points” with the data allowing you to simply “confirm” the business purpose (or remove the personal transactions that don’t belong in your business records). Once the data is in Deductr (and marked confirmed by you), you can forget it and move on to doing what you do best: running your business.

The best part is this can all be done via mobile app, so you can “take care of business” in small chunks throughout your day. Add your business miles while on the go and you will have a complete set of business records when you need it for taxes.
 
 

Using Deductr's Reports for Your Year-End Tax Preparations

 
As you’re preparing for tax time this year, make sure you take full advantage of all the Reports that Deductr has to offer. They are formatted to make it extremely easy for your tax professional to help you get all the deductions you deserve.

Your Deductr PRO account provides the following reports:
  • Profit & Loss
  • Tax Summary
  • Vehicle Report
  • Home Office Report
  • Tax Report
  • Mileage Summary
  • Activity Log
  • Medical Report
  • Contractor Wage Report
  • Child Wage Report
Before downloading or printing your reports, ensure that you have cleared any Warnings that may appear. These warnings generally appear due to missing data necessary for calculating your deductions. The two most common warnings have to do with the Beginning Odometer and Ending Odometer readings not being entered for your car.

Click here to view our Help Center article on where to enter your 'Beginning Odometer 'reading. 

Click here to view our Help Center article on where to enter your 'Ending Odometer 'reading.


Ready to Download or Print your Reports? Click here for step-by-step instructions in our Help Center!


Need additional Support? Our friendly support agents are available to help you. Please let us know if we can be of any assistance! 
  • Telephone and Email support is available to Deductr PRO users
  • Email support is available to Deductr Basic users
 
 
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