Know Your Budget
"Budgeting is knowing where your money is going instead of watching it disappear."
Sandy Botkin - Author, CPA, Former IRS Attorney
The single most important thing you can do to gain control of your finances is to begin documenting ALL of your spending, including cash. Seeing a detailed listing of your true spending habits is a life changing experience for most people. A thirty day snapshot is normally all it takes because that's long enough for someone to see how your $6 per day Starbucks trip is actually a $120 monthly bill.
Documenting your spending also allows you to fully maximize your tax savings potential. There are hundreds of tax laws in place to help you pay less taxes, but it's up to you to take advantage of them. Your job isn't to learn these laws, you just need to provide your CPA with an accurate account of your spending so they can put them to work for you.
Taxbot is an easy to use phone app that not only provides categorized breakdowns of your spending, you get live customer support, audit assistance, unlimited tax questions answered, live tax education webinars and a host of other benefits. Taxbot also gives you real-time tax savings estimates while focusing on IRS compliance, and at the end of the year you can print off Audit-Safe™ Reports that help your accountants maximize your tax savings potential.
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Everyone's Taxbot service starts with a two week free trial, then you have the option of paying either $99.99 for a year or $9.99 per month. This cost is also 100% tax deductible.