Usefulness
Functionality
Price
Lilac is a free yet highly effective tool that helps freelancers save money by ensuring they get the maximum tax write-off possible.
If you have been looking for a free tool that can help you keep track of your finances, then you will be happy to learn about Lilac. This is a simple and easy to use tool that helps independent contractors, freelancers as well as gig economy employees to keep track of their finances. So, whether you are an Uber driver, an on-demand worker, an Etsy seller, vendor or an Airbnb host, Lilac helps you to stay on top of your finances.
How the Lilac App for Freelancers Works
It’s pretty easy to use Lilac. Go to their official website and click on the ‘Get Lilac’ button on the top right hand corner of your screen. You will then be prompted to download the iOS or Android app.
Once installed, you can immediately start to easily add sales and business expenses as they occur.
Track and Understand Your Finances
Good thing about Lilac is that it is a mobile application meaning you can record your transaction from wherever. As you do this the platform’s tax engine goes to work, to provide you with a real-time estimate of your liabilities and expected tax refund. You will be able to see how your finances are being calculated and if you need any more information on an item, just click on it to learn more.
Besides crunching the numbers, Lilac also makes it absolutely easy to record your sales as they happen, meaning you are able to know the products or services that are making you money.
Security
Lilac boasts bank-grade security. It makes use of 256-bit SSL and encryption that ensures your information is kept safe and secure.
Pricing
Can you imagine? With all of its advantages, Lilac app is absolutely free!
Conclusion
Lilac is definitely a must have tool for all freelancers that seek to get the maximum tax write-off possible. You can easily get your list of Schedule C expenses whenever it’s time to file your returns. And while having a mobile application that you can use on the go is a huge plus, it would be interesting to have Lilac as a web platform that can be accessed via PCs.
Photos via Lilac