Launch HN: Keeper Tax (YC W19) – Finding Tax Write Offs In Bank Statements

The company exists out of irritation with how many people are doing 1099 gig works — rideshare, jackrabbit, online tutoring, etc — are overpaying on fees. An extravagant accountant could prevent, but fancy accounts are expensive. That’s why we’re building Keeper.But it’s more than just a low price.

We want to make something accessible to people who don’t actually know much about fees or cares to (i.e. the majority of us). That’s why we think the perfect solution is to inform, not to ask, as it pertains to tax deductions. Your monthly phone bill is a great example. Many gig employees wouldn’t think their phone expenses is a taxes deductible expense.

However, it’s partly deductible since you certainly use your phone for work. But that sword cuts both ways — many people will eagerly make an effort to deduct haircuts, clothes, and other personal effects. The IRS is very strict that these are not taxes write offs, so these people risk getting themselves in big trouble for an understandable mistake. An individual experience is: we text you yes / no questions several times a week. Examples include “Hey, was lunch at McDonald’s shared with clients / coworkers today?”, or “Do you utilize your Spotify account to play music for your timeshare passengers?

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“. The written text text messages are computerized, but we hire an accountant to monitor things and jump in when needed. 10 monthly because it’s simple, but eventually want to move to a model where we charge a few percent of the tax write offs we find for you. 21% stat is dependant on comparing an example of eleven 1099 contractor’s 2017 tax returns against what we should found when digging through their company loan statements.

Biggest sources of this discrepancy is lacking the house-office deduction, forgetting to claim car insurance payments and other non-obvious transportation expenditures, and forgetting to monitor business meals. Alternatively, do your terms allow that in the future? 10 per month because it’s simple, but eventually want to go to a model where we charge a small percent of the tax write offs we find for you. Maybe not totally aligned though as it’d be in your interests to be as aggressive as possible with write off claims while the customer would presumably be on the hook for just about any rejections or audits.

If I had formed a nickel.And yet to a different concern about granting access to digital data in the response is”what concerns are you experiencing with posting purchasing data?”Naivety or purposely deflecting from the very real concerns many have and everyone should? I’m not your target market (I’m a W-2 employee), but I’d not discuss something as sensitive and personal as my full purchase background with an organization that didn’t explicitly declare that they might never mine or sell that data. Specifically, for something that I’d be spending money on. Somewhat, yes – the customer is likely to be on the hook for telling the reality always.

For example, we can ask: did you venture out to that supper with litigant or coworker? The customer could rest and say yes, to be able to state more write offs. There’s not much we can do about this. We support users if they get audited in the sense that we’d give them all of their data documented with Keeper and help answer any questions. Ultimately, we base our recommendations on the information an individual has told us, but we can not ensure that the answers were truthful.