The iLA Tax Shield App is very useful for any business owner who wants to keep track of their taxable spending.
It’s already being used in the marketplace and people continue to use it at a retention rate of 90%.
You can take a trip, turn it on and it track the miles for you. How many times do you forget to do that?
Program into the iLA Tax Shield app the credit card you use for expenses. The app logs it all in and formats it for printing the way CPAs like to see this type of information.
It’s the bars! The iLA Tax Shield app features a blue and red bar. The red bar displays your business expenses. The blue bar displays how much you are saving as a results of tracking your expense. Love that blue bar!
Having a mobile App allows you to track all your expenses on the go. Gone are the days of carrying around a notepad to track mileage or the need to keep a file, (shoe box in most cases) of all your receipts. At the push of a button, expense reports can be generated and printed directly from the App.
The home office deduction is available to renters and homeowners alike. It is available for office space and other areas you use for business in your home — such as a studio, workshop, or garage. And according to the IRS, your “home” can be a house, condo, or apartment unit — or even a mobile home or boat, as long as you can cook and sleep there. However, you must meet two tax law requirements to qualify for the home office deduction.
This app is not only good for relationship marketing people, but any insurance agent, CPA, real estate agent, contractor, or even the guy that mows your lawn! How many people do you know that can use this app?
If you are self-employed, you claim your business deductions on Schedule C, Profit (or Loss) for Business or Profession. The IRS emphasizes that claiming business-at-home deductions does not automatically trigger an audit of your tax return. Even so, it is always wise to keep meticulously within the proper guidelines, and of course keep detailed records if you claim business related expenses when you are working out of your home. You should discuss this aspect of your operation with your tax preparer or a person qualified in the field of small business tax requirements.
In my opinion this is an amazing breakthrough in the app industry that takes a lot of the guess work out of your business deductions. No more leaving money on the table when it comes to your tax deductions, our ilA tax shield app does all the heavy lifting for you. You’ll look foward to another tool to add to your tax deduction arsenal and for the small price of only $9.95 a month, that’s not bad not to mention all our other useful apps in our app site in the Apple store.
