10 Tax Filing, Expense Tracking Tools to Keep the IRS Happy

For those who prepare their own taxes or need to track their expenses for tax purposes, these 10 apps can simplify the processes and even save them money.

Anyone looking to do their taxes from the comfort of their home can do so with Intuit’s well-known TurboTax Tax Preparation app. The free app walks users through the process of filing their tax returns and even allows for an e-file submission. While the app is completely free to users who need to prepare and file a federal return, Intuit charges $30 for a single state return. Other tools, such as a business tax return, are also available as in-app purchases.

Before it comes time to file taxes, however, users need to get their personal financial records in order. That’s where the free Mint application comes in. The app integrates with bank accounts and can automatically track a person’s budget, spending behavior, expenses and much more. At the end of each year, Mint provides an expense summary that can be used to input deductions on tax returns.

QuickBooks is a must-have application for any business owner. Better yet, it comes from Intuit, the maker of TurboTax. So importing data into TurboTax is simple. With QuickBooks, business owners can invoice clients, keep track of their financial statements and manage expenses. Profit-and-loss statements are also just a click away. So, whether users want to do their own taxes or hire an accountant, QuickBooks is the tool many companies use to store the data needed to get the job done. It’s available as a free download.

H&R Block might operate perhaps the largest network of tax preparation offices in the world, but that doesn’t mean it can’t also offer a mobile app. In fact, the company’s free mobile app allows users to prepare their taxes and file their federal forms for free. The app even includes a feature that lets users snap a picture of their W-2 form. The program then automatically analyzes the information and inputs the data into the correct tax return fields.

The IRS doesn’t come with the most full-featured app in this roundup, but it provides information the average tax payer might want to know. The free IRS2Go download asks users to input their Social Security numbers and other data to find out the status on their tax refunds. The app also supports mobile payments and provides free tax help.

Expensify is another useful application for professionals who want to keep track of their deductible expenses. The free app specifically tracks those items that can be deducted on a tax return, like travel and meals. Users can also take pictures of receipts in the event of an audit. It’s a must-have app for anyone trying to track his or her tax-deductible expenses.

Like Expensify, Concur helps users keep track of tax-deductible expenses. In addition, it includes support for managing several users within a company, making it useful for business tax returns. Best of all, when users book airfare and hotels with the app, that information is automatically integrated, so it can be pulled out for tax expenses. Like the others, Concur is a free download.

Ask A CPA Tax Answers is a useful program for do-it-yourselfers who are looking for help correctly filing their taxes. The app allows users to search through thousands of tax and accounting topics and get an answer within seconds. The app will also connect users with local CPAs to answer more sophisticated questions. There may be some cities or towns, however, that don’t have participating CPAs.

In addition to TurboTax, Intuit has designed an offshoot called TaxCaster, a free tax-refund calculator. Users need only input information about themselves, like whether they’re married and their age, as well as data about their income and “tax breaks,” and the app will automatically determine their tax burden. Not surprisingly, the app recommends users download TurboTax to file their taxes.

Tax Center is another question-and-answer application, but it takes it a bit further. Developed by Bloomberg BNA, the free app provides detailed information and analysis of complex tax issues. While the app may be most useful to tax professionals, it’s available to anyone who’s interested in getting “expert analysis” on tax problems and doesn’t necessarily want to talk to a CPA to get the answer.