Intuit and Stella & Dot to Simplify Finances for Over 40,000 Stylists and Designers Across North America
July 11 2017 - 8:30AM
Business Wire
QuickBooks Self-Employed Helps Thousands of
Direct Sellers Manage Business Expenses and Tax Obligations
Throughout the Year
Intuit Inc. (Nasdaq: INTU), and Stella & Dot, a global
fashion accessories brand and social selling company, today
announced that they are working together to offer Stella & Dot
Independent Business Owners in the United States and Canada the
ability to manage their finances and tax obligations with
QuickBooks Self-Employed (QBSE). The agreement between Intuit and
Stella & Dot also applies to KEEP Collective, a Stella &
Dot sister brand focused on personalized accessories. Today, more
than 360,000 self-employed individuals worldwide use QuickBooks
Self-Employed to track their business finances and understand their
tax obligations throughout the year.
Stella & Dot Independent Stylists and KEEP Collective
Independent Designers are a part of the booming direct sales
industry, contributing to the larger, overall trend of
self-employment globally. Intuit forecasts that independent
workers, which include direct sellers like Stella & Dot
Stylists and KEEP Collective Designers, will make up 43 percent of
the American workforce and 45 percent of the Canadian workforce by
the year 2020. Additionally, according to the Direct Selling
Association, 5.3 million people were building independent
businesses as direct sellers in the United States alone last year.
Similarly, in Canada, the Direct Sellers Association states there
are 882,000 direct sellers who drive $792 million in revenue.
“I’m always concerned about my taxable income and making sure
that I can keep as much of my money that I work so hard for,”
explained Erin Reckner, Stella & Dot Stylist and user of
QuickBooks Self-Employed through the Stella & Dot partnership.
“QuickBooks Self-Employed is perfect because it helps me be more
efficient and is super user friendly. The mileage tracking feature
alone is worth it compared to how I used to track mileage. It’s
become a part of my daily routine, whereas I used to wait until tax
time and look back through planner notes, calendars and mapped
miles – a horrendous and time consuming process. QBSE has been a
huge time saver, and my accountant is happier with me too, because
it’s not such a frenzy at tax time now.”
QuickBooks Self-Employed helps untangle business and personal
expenses, uncover potential deductions and provide insight into tax
obligations through the following features:
- Expense Tracking: Business and
personal expenses are easily categorized by swiping left or right
on in the mobile app, making it easy and fast to track every
potential deduction. Users find on average $4,340 in potential tax
savings per year, cutting their tax bill by up to 36 percent. In
total, QuickBooks Self-Employed has uncovered over $1.1 billion in
potential deductions.
- Mileage Tracking: Track mileage
automatically with a mobile phone and categorize trips with a
swipe. QuickBooks Self-Employed helps users identify potential
vehicle deductions and prepare for tax time. Users log an average
of $7,393 in potential mileage deductions per year, finding an
average 45 percent more potential deductions by logging miles.
- Receipt Snap: Snap a photo of a
receipt with the mobile phone app and automatically create a
transaction with the receipt attached. If a transaction already
exists, Receipt Snap will automatically attach the receipt to that
transaction.
“While being self-employed means different things to different
people, one thing holds true for all: the opportunity to create a
business that suits your individual needs,” said Cassie Divine,
vice president and business leader of Self-Employed Solutions at
Intuit. “But we also know the freedom and opportunity that comes
with being self-employed can bring uncertainty around financial
management and tax compliance. QuickBooks Self-Employed offers the
tools direct sellers need to effectively manage their businesses,
provide line of sight into their financials and also potentially
uncover thousands of dollars in tax deductions.”
For more information about QuickBooks Self-Employed, please
visit https://quickbooks.intuit.com/self-employed/.
About Stella & Dot
Stella & Dot is a boutique-style jewelry and accessories
company reinventing the home-based, flexible entrepreneurship
opportunity for the modern woman through its social-shopping
business platform. Stella & Dot offers its on-trend, celebrity
and editorial-coveted product line exclusively through a growing
network of trained independent consultants (“Stella & Dot
Independent Stylists”) across North America, the United Kingdom,
Germany, Ireland and France. With a mission to give every woman the
means to style her own life, Stella & Dot celebrates the
collective spirit and recognizes its leaders through executive
training, exclusive sales rewards, and a community that gives back
at home and abroad. Stylists earn sales commissions by selling at
private in-home Trunk Shows and online with a best-in-class and
innovative technology platform. For more information, visit
www.stelladot.com.
About KEEP Collective
KEEP Collective is an innovative charm concept on leather wrap
bracelets, metallic bangles and necklaces exclusively sold by KEEP
independent consultants (“KEEP Collective Independent Designers”)
online and at in-person Design Sessions where friends can gather to
create their personalized piece and share what each charm means to
them. The concept was inspired by the desire to help people
celebrate their one of a kind life and keep what they love close at
hand. The extensive collection of charms includes inspirational
phrases, Greek letters, sports, hobbies, birthstones and
expressions of faith. The exclusive and chic charms are designed in
Sausalito, California by an award-winning design team with prestige
jewelry experience. Each charm is keepsake quality and prices start
at just $7. The range of fashionable bands and charms create a
broad set of styles that appeal to everyone from a young
college-aged woman ready to sell a neon wrap bracelet to her
sorority sisters, to a new grandmother interested in helping her
friends create a keepsake to represent their growing families. For
more information, visit www.keepcollective.com.
About Intuit Inc.
Intuit Inc. is committed to powering prosperity around the world
for consumers, small businesses and the self-employed through its
ecosystem of innovative financial management solutions.
Its flagship products and services
include QuickBooks® and TurboTax®, which make it
easier to manage small businesses and tax preparation and
filing. QuickBooks Self-Employed provides freelancers and
independent contractors with an easy and affordable way to manage
their finances and save money at tax time,
while Mint delivers financial tools and insights to help
people make smart choices about their money.
Intuit's ProConnect brand
portfolio includes ProConnect Tax Online, ProSeries®
and Lacerte®, the company's leading tax preparation offerings
for professional accountants.
Founded in 1983, Intuit serves 42 million customers
in North
America, Europe, Australia and Brazil, with
revenue of $4.7 billion in its fiscal year 2016. The
company has approximately 7,900 employees with major offices in
the United States, Canada, the United
Kingdom, India, Australia and other locations. More
information can be found at www.intuit.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170711005633/en/
Intuit Inc.Kim Amsbaugh,
650-944-6649Kim_Amsbaugh@intuit.comSarah Triantafillou,
905-366-9663Sarah_Triantafillou@intuit.com
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