The 'Better' App Keeps Freelancers on Top of Their Tax Bill
Michael Hemsworth — August 23, 2019 — Business
References: bettertax.co & betalist
The 'Better' app is a solution for freelancers that will offer them a way to automate their taxes and worry less about a daunting end-of-year bill to pay.
The platform works by taking all of your freelance income into account and automatically calculates how much taxes will need to be paid. The tax amount that is needed can then be planned for directly within the app and allow users to save it away instead of relying on memory to keep the money available for payment. The daily tracking capability will enable users to see exactly how much they have earned, how much taxes they owe and more.
The 'Better' app speaks to the increased prominence of professionals performing freelance work and the need for DIY bookkeeping solutions.
The platform works by taking all of your freelance income into account and automatically calculates how much taxes will need to be paid. The tax amount that is needed can then be planned for directly within the app and allow users to save it away instead of relying on memory to keep the money available for payment. The daily tracking capability will enable users to see exactly how much they have earned, how much taxes they owe and more.
The 'Better' app speaks to the increased prominence of professionals performing freelance work and the need for DIY bookkeeping solutions.
Trend Themes
1. Freelance Tax Automation - The rise of freelance work necessitates the creation of automated solutions like the Better app to streamline tax management.
2. DIY Bookkeeping - With increasing numbers of freelancers and small business owners, there is a growing demand for apps like the Better app to automate bookkeeping tasks.
3. Real-time Income Tracking - Better app's daily tracking capability is an example of the growing trend of real-time income tracking for freelancers and other self-employed individuals.
Industry Implications
1. Accounting - There is a significant opportunity for accounting firms to create or partner with similar automated tax management solutions like the Better app.
2. Finance Technology (fintech) - Fintech companies can develop innovative tools like Better that meet the financial needs of freelancers and other self-employed individuals.
3. Small Business Management - Small business management software providers can incorporate similar tax automation tools into their platforms to support and attract self-employed users.
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