QuickBooks Online Self-Employed has Helped Freelancers Track Over
5M in Business Expenses Since Launching One Month Ago
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–
Intuit Inc. (Nasdaq: INTU) today announced three new partnerships that
will help on-demand economy workers better manage their finances and
simplify the tax-paying process. TaskRabbit,
Fiverr and UpCounsel
will now offer QuickBooks Online Self-Employed to their freelance
workers, giving them the tools they need to manage their finances and a
seamless integration with TurboTax Online.
Since first announcing the availability of QuickBooks Online
Self-Employed on January 13, 2015, the product has helped freelancers
track over 5 million in business expenses, helping them save money on
their taxes and simplify their financial lives.
As the on-demand economy grows at a rapid pace, freelancers and
contractors must manage their own legal and financial tasks, including
paying quarterly taxes, tracking business expenses and understanding
their cash flow. Intuit’s new partnerships provide a simple solution,
A free version of the new QuickBooks Online Self-Employed software,
enabling users to easily enter and categorize the data they receive
from partner companies.
The ability to seamlessly send their data from QuickBooks Online
Self-Employed into TurboTax Online, speeding the process of completing
“The growth in the on-demand economy is creating exciting new
marketplace companies and tremendous income opportunities for
self-employed workers. But it is also exposing the challenges of
cash-flow management and tax compliance,” said Alex Chriss, vice
president and general managers of Self-Employed Solutions at Intuit.
“QuickBooks Online Self-Employed is the perfect solution for on-demand
marketplaces to offer to their independent contractors; giving them the
tools they need to successfully manage their finances and stay on top of
their tax requirements.”
“We are excited to continue our longstanding partnership with Intuit. It
represents an important next step in TaskRabbit’s commitment to
providing a platform and infrastructure that empowers our Taskers to
become micro-entrepreneurs,” said Leah Busque, TaskRabbit founder and
CEO. “Access to discounted and streamlined tax preparation services will
be an invaluable tool for our community of 30,000 Taskers who are busy
building their own businesses.”
“The millions of members of the Fiverr community are incredibly creative
and talented entrepreneurs,” says Micha Kaufman, Founder and CEO of
Fiverr. “Our partnership with Intuit provides Fiverr members with a
seamless solution for managing their finances. Fiverr sellers can use
Intuit to help organize their accounting needs, so that they can stay
focused on the creative work that drives their successful businesses.”
“We are excited to be partnering with Intuit, a leader in the small
business space, in our own pursuit to make running a business easier for
entrepreneurs and business owners,” said Matt Faustman, CEO of
UpCounsel. “Like us, Intuit recognizes the growing population of
independent entrepreneurs in this new labor economy, and that they need
tools and resources that empower them, the QuickBooks self-employed
product is a perfect example of one of these tools.”
In addition to the free version of QuickBooks Online Self-Employed,
users from partner companies will have the ability to connect additional
bank and credit card accounts to benefit from the full feature set of
the product throughout the year. Key features include:
Connect accounts: Import supported bank and credit card
accounts to easily track income and expenses with no data entry
Categorize by click: Mark a transaction as “business” by simply
clicking a button, or swiping a finger across a mobile app, letting
freelancers and contractors instantly categorize IRS Schedule C
Stack up savings: Track deductions all year round to help
entrepreneurs save time and money.
Simplify taxes: Calculate estimated quarterly and year-end
taxes so there are no surprises in April.
Count on security: Be confident that bank-grade encryption
protects information, helping to keep it safe and secure.
Intuit previously announced partnerships with Uber, Lyft and Hourly
Nerd, along with an integration that allows marketplaces using Stripe
for payment processing to automatically populate QuickBooks Online
Self-Employed with income data.
“We’re thrilled to be partnering with the leading on-demand
marketplaces,” said Kathy Tsitovich, Director of Business Development at
Intuit. “We’ve made it really easy for these Marketplaces to offer a
valuable benefit to their contract workforce – just in time for tax
For more information about QuickBooks Online Self-Employed please visit http://quickbooks.intuit.com/self-employed/.
About Intuit Inc.
Intuit Inc. creates business and
financial management solutions that simplify the business of life for
small businesses, consumers and accounting professionals.
Its flagship products and services include QuickBooks®,
Quicken® and TurboTax®,
which make it easier to manage small
businesses and payroll
processing, personal finance,
and tax preparation and filing.
Mint.com provides a fresh, easy and
intelligent way for people to manage their money, while Demandforce®
offers marketing and communication tools for small businesses. ProSeries®
and Lacerte® are Intuit’s
leading tax preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of .5 billion in its fiscal year
2014. The company has approximately 8,000 employees with major offices
in the United States, Canada,
the United Kingdom, India
and other locations. More information can be found at www.intuit.com.
Source: Intuit Inc.