With Outright, you don’t scramble around for receipts and you don’t spend days typing transactions into a spreadsheet. Not only does it import data from all of your accounts, it also categorizes them by Schedule C tax line. Use Outright all year round to make tax time a breeze.
Using your categorized transactions, Outright automatically fills out a worksheet to help you prep your Schedule C. All you’ll need to do is print it out and give it to your accountant.
Outright uses your sales and expense data to calculate accurate, up-to-date estimates of the taxes you may owe, such as your Quarterly Estimated Taxes and your Annual Taxes. You’ll get alerts for upcoming tax deadlines. We won’t let the due dates sneak up on you.
Thanks to ever-changing federal and state tax policies, collecting sales tax can be tricky. Outright keeps track of the sales tax you collect from your customers and the amount you'll need to submit as payment to your state government.
The 1099-K was introduced for the 2011 tax year and it's here to stay. For 2012, if you sell online and meet the requirements, you’ll receive a 1099-K from your third-party payment processers, including:
Not sure what this means for you? Outright can help you make sense of the 1099-K.