One of the main features of the TaxBot platform is its expense tracking option. This feature gives you the ability to take pictures of all your notes and receipts simply, and they will then be matched to the specific bank or transaction recorded previously. If the app detects a new transaction by way of a receipt copy or some other financial related input, it will add it automatically to your expense total.

This is such a great feature because it enables you to know that you’re receiving the maximum amount back on your tax returns each year. The app automatically captures receipts and other financial correspondences sent to you via email, which helps manage all of your business expenditure records.

TaxBot keeps a detailed record of all your credit card and bank transactions so; at the end of the year, you can sift through each one to verify that everything has been recorded, or, you can simply submit your income tax file with the information collected by the app on autopilot.

The TaxBot app is so powerful that it can actually fill in missing financial transaction data and categorize it for your review. All you have to do is approve the correction, and it will be logged in your expenses record. This provides a comprehensive safeguard that will maximize your tax savings while ensuring that you meet all tax filing regulations outlined by the IRS.

Whether you own a business that is specifically catering to the transportation industry or transportation is a big part of your business, one of the most significant tax deductions you can put on your annual filing is mileage. With TaxBot, all of your mileage will be recorded through the app using the activity from your device’s GPS.

TaxBot offers one of the most intuitive car mileage tracking features as it gives you total control over how you record your business-related rides. One cool feature of mileage tracking through the TaxBot app is that you can set a calendar appointment for your business trips, and once you complete the ride, it will automatically be logged in your expenses.

That means you can essentially set an entire month of calendar appointment in advance and simply forget about them since they will be captured automatically once completed. This takes the tedious work of keeping track of your miles manually out of the equation so that you can focus on your business’s most critical aspects.

Once your car mileage has been captured, TaxBot will display each trip with a detailed map containing the exact route you traveled for each trip. The app will also display the estimated amount every trip costs in gasoline according to the current market prices for oil and the type of vehicle you register when creating your account.

If you need to, TaxBot gives you the ability to easily merge your trips to reduce the number of individual trips displayed on your app dashboard. Consolidating trips is also another great way to lower taxes as it essentially makes the trips look “more important,” which provides credibility for IRS tax compliance purposes.

TaxBot gives detailed analytics about each trip, and all of the car mileage incurred during it. You will see a detailed map that includes the exact beginning and ending address of each trip, not just the state or city in which it was conducted. This gives you the ability to pinpoint exactly where your most substantial mileage expenses are coming from to further optimize your operations.

The app will automatically capture all of your business mileage expenses, and all you have to do is classify them with the swipe of one finger whenever it’s most convenient for you. Keeping a detailed and accurate record of all your mileage expenses can help you experience tremendous tax savings, which is why TaxBot is such a powerful automated business expense tracking solution.

If you’re a business owner who is interested in increasing your knowledge about tax deductions and how to maximize your tax savings year after year, TaxBot university is perfect for you. TaxBot university is undergoing a renovation and will now be accessible under the name “Taxbot Midas.”

Taxbot Midas gives you access to in-depth courses, training materials, videos, and support all related to lowering your taxes and teaching you how to manage all of your business expenses better so that you can make the filing process much more comfortable.

If you happen to be a pre-existing member of Taxbot university, you’ll be able to enjoy a special offer to sign-up for the new Taxbot Midas so that you can continue educating yourself about how you can lower your taxes while maximizing deductions.

While most businesses have dedicated accountants to handle their expense tracking and tax return issues, it’s never wrong for you as a business owner yourself to consistently educate yourself about the various laws and processes involved with expense tracking and tax management in general.

One of the primary benefits of doing so is that you will be able to create a safeguard for yourself and business against any shady practices by untrustworthy business partners or accountants you may come in contact with. The best part about it all is that you can enjoy all of these learning resources while seeing them happen automatically thanks to the TaxBot app.

Joining the TaxBot Midas program will give you access to TaxbotU courses and a wide range of other materials that can be very beneficial when it comes time to file your taxes.