This service would be a mobile application that would be accessible from any mobile device that is able to access applications. The user would initially log into the mobile application. After logging in they would directly connected to a cloud based system that is used to store their tax information throughout each year. After entering initial tax information (salary from previous year, dependents, interest, investment income, retirement, social security, rental income, royalties, business income and expenses, etc.) during the initial log in they would then use the application throughout the year as follows:
At any point in time they would log into the system to enter tax information such as, charitable contributions, student loan interest, medical payments, family care expenses, tax on large purchases, medical expenses, education expenses and any other deductible items. When an amount is entered the mobile application would prompt them to select a tax deductible category (eg. donation, etc.). Once the item is categorized the information is sent to your personal cloud based taxable data storage system.
When it comes time to do your taxes at the end of the year all of your data would be accessible by logging into the program from your personal computer. You would then be able to download the data to your choice of IRS tax forms based on how you categorized the data when entered via your mobile device. You would then be given a chance to review the data and change any necessary items before filing your tax return. Once you are satisfied that your tax documents are complete you would be able to either E-file them with the IRS or print and mail them to the IRS via personal computer or directly from your mobile device.
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