Question 1

How does the tax deduction finder work?

Accepted Answer

Upload a business bank or credit card statement. The tool extracts the transactions and classifies each one as deductible, mixed-use, personal, income, or a transfer. Likely business expenses are mapped to a Schedule C category and mixed-use charges receive an estimated business-use percentage. You can then review the total, category breakdown, and the reason behind every classification.

Question 2

Is the first tax deduction scan free?

Accepted Answer

Yes. Your first upload is free and does not require a credit card. After that, scans use the same page allowance as the main bank statement analyzer.

Question 3

Is this tax advice?

Accepted Answer

No. This is a research and bookkeeping aid, not tax advice or a tax return. Confirm every deduction, business-use percentage, and eligibility rule with a qualified tax professional before filing.

Question 4

What expenses can it identify?

Accepted Answer

It can surface common freelancer and small-business expenses such as software, advertising, office supplies, professional services, contractor payments, business travel, and qualifying business meals. It also separates obvious personal spending and transfers from the review list.

Question 5

How does it handle mixed-use expenses?

Accepted Answer

Phone, internet, utilities, rent, and vehicle-related charges can have both business and personal use. The tool marks these as mixed-use and estimates a business percentage based on the transaction and the business description you provide. Treat that estimate as a prompt to verify your actual records.

Question 6

What statements work best?

Accepted Answer

A dedicated business checking account or business credit card produces the cleanest result. PDF, JPG, and PNG statements work. If business and personal spending share one account, the tool can still separate likely personal charges for review.

Question 7

Does it work for LLC or S-Corp owners?

Accepted Answer

The report is organized around Schedule C categories, so it is most directly useful for sole proprietors and single-member LLCs taxed as sole proprietors. Other entities can still use the transaction classifications as a bookkeeping aid, but should map them to the forms used by their accountant.

Question 8

Is my statement stored?

Accepted Answer

The statement is processed for the scan and the file is not retained after processing. Results are returned to your browser for review.

Find tax deductions in your bank statement

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Tax deduction finder —
questions & answers

Give every business expense a second look.