Xero (xero.com), known for its accounting software, has launched Xero TaxTouch, a new app developed specifically for freelance workers who submit a Schedule C form with their tax filings. It provides a way to track earnings and tax liability by automatically downloading and organizing bank and credit card transactions from all major U.S. banks and credit cards.
Users can separate expenses by swiping right for business or left for personal. Xero TaxTouch estimates quarterly tax payments, and continually tracks take-home earnings. It also helps freelancers save money by categorizing expenses according to IRS-approved business deductions.
Xero TaxTouch is priced at $5.99/month, or $29.99 for the first year and is now available for download on iOS from the Apple App Store.