WEBVTT - App to Know: Everlance Tracks Business Expenses + Miles

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<v Speaker 1>Everlance is an essential app for entrepreneurs, freelancers, and anyone

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<v Speaker 1>else who wants to track mileage and expenses.

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<v Speaker 2>What's going on. I'm Rich Demiro. This is rich on

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<v Speaker 2>Tech Daily.

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<v Speaker 1>Recently, I've been testing out an app called Everlance. It's

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<v Speaker 1>an automatic mileage tracker, but also much more. The company

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<v Speaker 1>sent me up with a premium account so I can

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<v Speaker 1>try it out, and I was actually kind of hesitant

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<v Speaker 1>to even try this app out because I was so

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<v Speaker 1>used to what I normally use, which is called mile Iq.

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<v Speaker 1>I've been using that for years, but I'm grown to

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<v Speaker 1>like Everlance much more than that app. And that's because

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<v Speaker 1>while mile iq was great at tracking the miles that

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<v Speaker 1>you drive, everlance is more of a personal accounting tool

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<v Speaker 1>for independent professionals. You can track your mileage and your

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<v Speaker 1>expenses now. For starters, the app is free, but like

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<v Speaker 1>most freemium models, if you want to unlock the best features,

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<v Speaker 1>you're gonna have to pay for full access to the app,

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<v Speaker 1>which is eight dollars a month if you pay monthly,

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<v Speaker 1>but I'd recommend paying by the year because then it's

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<v Speaker 1>only five dollars a month if you pay for the

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<v Speaker 1>year in advance, which comes out to sixty dollars. Then

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<v Speaker 1>if you use my referral code, which everyone gets once

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<v Speaker 1>you sign up, that can take twenty five dollars off

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<v Speaker 1>the annual price. So it's really just thirty five dollars

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<v Speaker 1>for the first year and well worth it.

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<v Speaker 2>Let me explain why.

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<v Speaker 1>So once you set up the app, you just drive

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<v Speaker 1>your car as usual.

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<v Speaker 2>The app uses a combination of.

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<v Speaker 1>GPS and the centers in your phone to capture the

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<v Speaker 1>trips that you take.

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<v Speaker 2>It makes a log of those. Then at the end

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<v Speaker 2>of the day, week.

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<v Speaker 1>Month, or whenever you feel like it, you can go

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<v Speaker 1>in and classify the trips. I always recommend doing this

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<v Speaker 1>earlier than later, because sometimes you forget what a trip

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<v Speaker 1>was all about. But it's really easy to classify the trips.

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<v Speaker 1>All you have to do is swipe. You swipe to

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<v Speaker 1>the left for personal or swipe to the right for business,

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<v Speaker 1>and it's really that simple. Or you can slow swipe

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<v Speaker 1>a trip and then categorize it even further. There are

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<v Speaker 1>custom categories like medical, charity, moving, or commute, or you

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<v Speaker 1>can make your own, and you can also add notes

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<v Speaker 1>to each trips. You can remember what it was all about.

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<v Speaker 1>You can classify the car that you used if you

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<v Speaker 1>drive with several of them, or you can just trash

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<v Speaker 1>the trip altogether if you're in a friend's car, or

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<v Speaker 1>say on public transportation, because sometimes it picks up those

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<v Speaker 1>trips too. You always see an ongoing total of the

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<v Speaker 1>miles that you've logged for the entire month, the week,

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<v Speaker 1>the year, and more. Plus the neat thing is that

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<v Speaker 1>everlance also lets you know how much these miles are

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<v Speaker 1>potentially worth on your next tax report. Now I'm not

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<v Speaker 1>a tax person, but right now it's saying that I

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<v Speaker 1>drove two hundred and forty two miles for work for

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<v Speaker 1>the year, and that's about one hundred and thirty two

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<v Speaker 1>dollars in deductions. Now, the mileage logging is great, but

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<v Speaker 1>my favorite part of everlance is also how it can

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<v Speaker 1>help you keep track of business expenses and your transactions.

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<v Speaker 1>Now I've used Mint in the past to try to

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<v Speaker 1>do this, or a business only credit card.

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<v Speaker 2>Keep it in mind that sometimes I do do freelance.

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<v Speaker 1>Gigs like guest host a radio show or something like that,

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<v Speaker 1>so I do rack up some expenses not covered by

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<v Speaker 1>my regular job, and everlance makes keeping track of all

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<v Speaker 1>these expenses really easy. So you link up your credit

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<v Speaker 1>or your debit card. Then you see all of the

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<v Speaker 1>transactions on those cards, and again you swipe left or

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<v Speaker 1>right to categoriz them into work or personal. And within work,

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<v Speaker 1>you can even create categories so you know exactly what

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<v Speaker 1>those expenses were.

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<v Speaker 2>When the year comes to an end, and.

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<v Speaker 1>They take it a step further, you can even input

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<v Speaker 1>your freelance income, so this is cool for keeping track

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<v Speaker 1>of that. And the neat part is there's a taxes

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<v Speaker 1>tab on Everlance that gives you a preview of your

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<v Speaker 1>upcoming freelance tax year, so you see your revenue minus

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<v Speaker 1>your work expenses and your mileage deduction, which equals your

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<v Speaker 1>taxable income as a freelancer. Now, again, I am not

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<v Speaker 1>a tax person. I'm not giving you advice here, and

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<v Speaker 1>you're gonna have to double check all this stuff with

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<v Speaker 1>a pro. But it's a really nice little snapshot to

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<v Speaker 1>have and I feel like random business expenses of mine

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<v Speaker 1>are no longer falling through the cracks. There are lots

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<v Speaker 1>of other useful features, like generating reports to share with

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<v Speaker 1>your accountant. You can set work hours, and also your

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<v Speaker 1>favorite places or trips, so Everlance can automatically categorize them.

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<v Speaker 1>But this app is a winner in my book. You

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<v Speaker 1>can find a link to download it, and be sure

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<v Speaker 1>to use my referral code if you're going to sign

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<v Speaker 1>up so you can save some money on the annual fee.

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<v Speaker 1>Just go to Rich on tech dot tv and search Foreverlance.

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<v Speaker 1>And if you like this podcast, be sure to leave

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<v Speaker 1>a rating and review in the Apple Podcasts app.

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<v Speaker 2>That way more people discover it. I'm Rich Tomiro.

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<v Speaker 1>As always, you can find links to everything I talk

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<v Speaker 1>about here on my website.

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<v Speaker 2>Just go to richon tech dot tv. I'll talk to

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<v Speaker 2>you real soon.