Provides an automated mileage and expense tracking platform that uses GPS and bank integration to log business trips and transactions without manual entry. This ensures IRS-compliant records, identifies potential tax deductions, and streamlines reimbursement processes for self-employed individuals and businesses, reducing administrative workload and maximizing tax savings.
Funding
Funding not disclosed
PAFounders
Product
Problem
Self-employed individuals and businesses often struggle with manually tracking mileage and expenses, leading to missed deductions and non-compliant records. This manual process is time-consuming, prone to errors, and creates administrative overhead for tax preparation and reimbursements.
Solution
Everlance provides an automated mileage and expense tracking platform that leverages GPS technology and bank integration to accurately log business trips and transactions. The platform automatically tracks mileage, allowing users to classify trips with a simple swipe, and syncs with bank accounts to log expenses without manual entry. Everlance identifies potential tax deductions, generates IRS-compliant reports, and streamlines reimbursement processes. By automating these tasks, Everlance reduces administrative workload, maximizes tax savings, and ensures accurate financial record-keeping.
Target Audience
Everlance targets self-employed professionals, gig workers (such as delivery and rideshare drivers), real estate agents, and businesses with employees who drive for work.
Features
- Automatic mileage tracking using GPS, operating in the background
- One-click trip classification for work or personal purposes
- Automatic expense tracking by syncing with bank accounts and credit cards
- Receipt management with photo capture and attachment to expenses
- Tax deduction finder to identify potential deductions from scanned expenses
- IRS-compliant report generation for mileage and expenses
- Customizable reports for tax, reimbursement, or personal finance planning
- Integration with tax filing software
- Real-time data privacy with secure cloud storage
- FAVR (Fixed and Variable Rate) program for personalized reimbursements
- CPM (Cents Per Mile) program for mileage reimbursement management
- Everlance Payments for hands-free mileage payments