Deductions

Within the desktop version, the Deductions section allows you to view and manage your expenses, although the functionality is limited compared to the Keeper app. It's nothing to worry about, our team is always working on updating and adding new features so you can have the best experience possible!

Let's take a look at each of the features currently available in the web dashboard below.

 

Year

When you click on the year, you can toggle between your deductions for this year and the previous year.

📝 Please keep in mind that we currently only support the current year and the previous year.

Navigation: Deductions -> Year

 

Search expenses by name

This section will let you search your transactions by merchant's name. (e.g. Netflix)

Navigation: Deductions -> Magnifying glass

 

Manually adding an expense

The "+" icon in the top right corner is where you can manually add a business expense.

Navigation: Deductions -> Add expense

All you need is:

  • The name of the purchase
  • Date
  • Amount spent
  • Category

Don't forget to hit Save so it gets added to your deductions.

Navigation: Deductions -> Add expense

 

Export your deductions

Within the web dashboard, you can export a spreadsheet of your deductions by clicking on 'More' next to the 'Add expense' button in the top-right corner. Make sure you select the correct year under the Deductions tab before exporting.

Navigation: Deductions -> More -> click on 'Export'

Link another account

Additionally, you can link another bank account or card by selecting "More." Just click on "Link another account," and you'll be instantly directed to the Settings tab of your dashboard to complete the process.

Navigation: Deductions -> More -> click on 'Link another account'

 

Estimated tax savings

The amount you see here is an estimate of the money you'll get back from the government at tax time, either as a tax refund or a bill reduction.

Keeper does the math so you don't have to. For those who want to know, the value is determined by multiplying your tax rate by the dollar value of your total tax deductions.

📝 The tax rate used to compute your estimated tax savings is based on the income and personal details you've provided in your tax profile. You can always update your tax profile within the Settings tab of the app.

Navigation: Deductions -> Estimated Tax Savings

 

Deductions Overview by Category

If you click on Estimated Tax Savings, a pop-up window will appear with a breakdown of your total deductions X your tax rate and your total estimated tax savings.

This is where you'll also see a list of all your deductions per category. And where you can view, manage, and edit them.

By tapping on the category, you’ll see all the added expenses for that category.

Reviewing these sections is a great way to stay organized and ensure all your expenses are tracked!

Navigation: Deductions -> Estimated Tax Savings

 

Sorting Expenses

Below estimated tax savings, you can see a list of all your expenses that you can filter by:

  • Date
  • Merchant
  • Account
  • Status
  • Category
  • Amount

Navigation: Deductions

 

Filter by transaction status

If you tap on Status, you’ll be able to filter your transactions by:

  • Suggested
  • Deductions
  • Not deductible

Navigation: Deductions -> Status

Under "Suggested," you'll find a list of expenses that need categorizing. You can mark each expense as either a "deduction" or "not deductible."

Checking this section frequently to correctly mark each expense is a great habit to develop.

More deductions equal more tax savings!

Navigation: Deductions -> Status -> Suggested

 

Editing an Expense

Selecting an expense in the "Deductions" tab opens up a list of tools to help you micro-manage the transactions that are added to your list of deductions.

You can click on a specific purchase to:

  • Mark the purchase as a deduction or not deductible
  • Edit the expense category
  • Adjust the business-use percentage for that particular expense

You can also add a note to your expenses. This is helpful if you'd like to add extra documentation for your transactions, especially business meals, such as who you're with or what the meeting was about.

Navigation: Deductions -> Select the expense

 

If you prefer to manage your expenses on the app, feel free to check out this article about the app's Deductions tab!