Self-employment gives you a lot of benefits. You don’t have a boss and you can choose your own schedule. But it also comes with a lot of chores. You will need to keep track of your income, expenses, and tax deductions. You also need to estimate your self-employment taxes. If you are self-employed, you need to have your books in order, otherwise, things can get complicated at tax time. That’s where Hudlr comes in.
Hudler is a mobile app that tracks all your income streams, mileage, and expenses to make your life easier. It helps you stay on top of the accounting process for your business. It does all of this in real-time. It also saves you taxes by helping you maximize deductions.
What can Hudlr do for you and your business
Track mileage
The Hudlr app on your phone runs in the background and tracks your mileage. You can categorize your miles as business expenses and the app will calculate the deductible expenses for tax purposes.
Track income
If you have a lot of side hustles, you probably get paid through PayPal, Venmo, Stripe, and direct deposit. If you connect your accounts to Hdudlr, you can categorize the income as business income. Hudlr will keep track of your income streams.
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Estimate taxes
Since Hudlr tracks your income and expenses, it can also estimate your estimated federal and state taxes. You can get a view of your quarterly and annual projected taxes from your app.
How much does Hudlr cost?
Hudlr has three tiers – free, premium, and pro. The free service has mileage tracking and will allow you to connect accounts. But it will not categorize income and expenses – you will have to do that yourself. If you can spend a half hour a week categorizing expenses, you don’t need the premium version of the app.
The premium plan will categorize income and expenses automatically. It costs $10 per month or $83 per year. The premium version allows you to set automation rules (eg. your work hours to allow the app to calculate business expenses and income). The premium version will calculate state and self-employment taxes for you.
Hudlr also has a pro version, which costs $16.67 per month. In addition to all the features available in the premium plan, the pro plan allows you to generate invoices (send invoices to clients and accept payments via a credit card), do double-entry accounts, and advanced reporting. This version allows you to create separate access to your account for your accountant as well.
Hudlr vs Quickbooks
Quickbooks is a leading player in the bookkeeping space. Other applications in the area are Wave, Zoho Books, and Freshbooks. But all of these applications are designed for accountants, not business owners. They all have a steep learning curve for which the business owners don’t have the time.
Where Hudlr stands out is its simplicity. It’s ready to use right after you install the app. It’s intuitive and easy to use, unlike other bookkeeping applications on the market. Most gig works don’t need the full functionality of Quickbooks or Freshbooks.
Bottom Line
Freelancers, gig workers, and self-employed workers have a difficult time keeping track of income and expenses. This can become a problem at tax time. But Hudlr simplifies this for you by categorizing income and expenses in real time. Hudlr also allows you to maximize deductions and calculate self-employment taxes in real time. In short, Hudlr helps you keep your books in order. Though it has free, premium, and pro versions, most users can get by with the free app if they can spend half an hour a week manually categorizing expenses. This feature is automated in the higher versions.
