Tuesday, February 17, 2015

Intuit Partners with TaskRabbit, Fiverr and UpCounsel to Offer Freelancers Financial and Tax Management Solutions

Intuit Inc. INTU, -0.34% today announced three new partnerships that will help on-demand economy workers better manage their finances and simplify the tax-paying process. TaskRabbitFiverr 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 $125 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, offering freelancers:
  • 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 year-end taxes.
“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 required.
  • 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 deductions.
  • 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 season.”
For more information about QuickBooks Online Self-Employed please visithttp://quickbooks.intuit.com/self-employed/.