Using Mint.com to file your taxes

Mint.com is a product by intuit. It is extremely quick and easy to use. The trick is to stay consistent with categorizing your expenses. If you are an accountant and need to put together a schedule C or an S Corp return using Mint.com data, export the data into CSV. If the user has been up-to-date on the categories, this should be a piece of cake from here. Run a pivot table and input directly into schedule C or the input in your 1120s software. Here is how to export all the transactions.

  • Login
  • Click on "all accounts" on the left side of the screen
all-accounts
all-accounts
  • Then, scroll all the way to the bottom right of the screen, and in small letters you will see "Export all #### transactions"
export-all
export-all
  • Export and create pivot table in excel (this you should know how to do).

If the data is not categorized, use the excel filters to reconcile common items based on the bank-generated memo description. This will take work.

My overall assessment for tax clients that have their data in Mint: bring it on. I love working with mint and find that it is a lot less clunky than many other applications. I generally recommend this software, as well as freshbooks, for non-finance savvy business owners that want to stay on top of their books.