Uber Drivers Nightmare Turns into a Dream!
I was in an Uber the other day, and of course, I asked the Uber driver how he manages his financial admin.
He said, "I keep all of my receipts and just give them to my accountant at the end of the year".
His accountant goes through a painfully tedious data entry process adding the date, expense category, amount, and GST into a spreadsheet and then compares it to the bank account.
All of this One. By. One...
So, I asked him, "how much does that cost you?"
"$3,500 last year." 🤯
Just for lodging his tax! To be fair, I’d charge $3,500 to enter data for 100’s of receipts too.
By the time those receipts hit the accountant's desk, half of them are faded, and unreadable; plus a few hundred dollars’ worth probably didn't even make it to the shoebox...
No deductions there, I'm afraid.
What a great way to maximise your tax bill...
So, then he asks me what I do for a living.
"Well, funny you should ask" 😀
I work at Thriday, we do the opposite of what you just told me.
With Thriday, you just take a photo of your receipts with the app to save them to your account (you can email or upload them too). Thriday automatically reconciles them against the right transaction.
No more faded receipts, no missed expenses.
This means you get to claim all of your expenses, not half of them.
Want a tried-and-true way to minimise tax? Claim all of your expenses.
As your income comes in and your expenses are paid out of your Thriday transaction accounts, your tax is automatically calculated.
You can always see the health of your business!
Including exactly how much money you've made, how much tax you owe and how much you're spending on your business.
The cream on top is that you can lodge your BAS and tax directly from Thriday to the ATO.
That whole process costs a hell of a lot less than $3,500 per year. It's more like ~$500 per year!
This Uber drivers nightmare just turned into a dream!
If you'd like to turn your tax nightmare into a dream, jump onboard the Thriday train! 🚂️