I recently started using Outright to record the income and expenses for my blogging “business”. In a word, I’m blown away! As a budding entrepreneur, Outright provides everything I need to track income, expenses, and taxes, but nothing I don’t.
If you earn any income from a business or self-employment, you need to try Outright today.
Outright, formerly GoBootstrap.com, is an awesomely simply online accounting tool for entrepreneurs and small businesses. According to its founders, Outright’s goal is:
[T]o keep [accounting] as simple as possible, while helping entrepreneurs track all of their income and expenses to get their taxes done accurately.
I think they’ve succeeded.
In 2008, I earned a significant amount of income on my own for the first time in my life. As a result, my 2008 tax return is a nightmare. Although I paid some estimated taxes, I didn’t pay enough, and I’ll owe Uncle Sam a chuck of change—and possibly penalties and interest—come April. Plus, I have the pleasure of digging back through a year’s worth of credit card statements to see what might be deductible as business expenses.
I resolved that things would be different in 2009, and Outright will help me stick to that resolution.
Within five minutes of creating an account last week, I inputted all of my income and expenses so far for 2008. And already, Outright has calculated how much I should pay the IRS in estimated 2009 taxes come 2009.
As Outright is in Beta, so far it’s free. And so far, I’m a big fan. If you earn money from a small business or freelance work, you owe it to yourself to give Outright a try today.