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| Written by The Progressive Accountant | |||
| Saturday, 12 September 2009 16:19 | |||
Currently, the application is designed only for the tax system in the United States, but the company hopes to add support for more countries, although it gave no schedule. Outlook is currently designed for sole proprietorships and single-member LLCs that file a Schedule C tax form. There are no immediate plans to support other business entities.
The application calculates a business's profit through the end of the IRS quarter or through today's date if the quarter hasn't ended and self-employment tax utilizing the latest IRS rates. For example, if a user looks at the taxes page on June 10, the profit or loss would be provided through May 31, the end of the second quarter for IRS purposes. | |||
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About the Author: Brett Owens is CEO and Co-Founder of Chrometa, a Sacramento, Calif.-based provider of software that records activity in real time. Previously marketed to the legal community, Chrometa is branching out to accounting prospects; gains include the ability to discover previously undocumented billable time, save time on billing reconciliation and improve personal productivity. Brett is also blogger and founder at CommodityBullMarket.com and ContraryInvesting.com, as well as a regular contributor to two leading financial media sites, SeekingAlpha.com and BeforeItsNews.com. |
Outright.com, a free online bookkeeping site, is available to eBay’s online sellers through the Selling Manager Applications (SM Apps) platform. Outlook plans paid options and fee-based services, but says the core service for self-employed individuals will remain free. The company's Web site notes the product remains free during the Beta period.
