Upward is a financial management platform for independent workers that automates the tracking of 1099 income, business expenses, and mileage to minimize tax liabilities. By organizing financial data and providing insights, Upward enables users to maximize deductions and increase their earnings efficiently.
Funding
$10K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Independent workers often struggle to track income from multiple 1099 sources, monitor business expenses, and accurately calculate deductible mileage, leading to overpayment of taxes and inefficient financial management. The lack of a centralized platform for organizing financial data makes it difficult to maximize deductions and optimize earnings.
Solution
Upward is a financial management application designed to automate income tracking, expense monitoring, and mileage logging for independent contractors and gig workers. The platform consolidates financial data from various sources, providing users with a comprehensive view of their earnings and expenses. By automatically tracking mileage and categorizing business expenses, Upward helps users identify potential tax deductions and minimize their tax liabilities. The application also offers performance insights to help users optimize their earnings and discover new gig opportunities.
Target Audience
Upward targets independent contractors, gig workers, and freelancers who need a streamlined solution for managing their finances and minimizing tax liabilities.
Features
- Automated mileage tracking for accurate deduction calculations
- Expense monitoring and categorization for business-related costs (gas, insurance, car repairs, etc.)
- Income tracking from multiple 1099 sources (20+ gigs supported)
- Tax estimation to minimize federal, state, and self-employment taxes
- Performance insights to identify opportunities for increased earnings
- Support for multiple languages, including Spanish