SnapTax: Tax Planning Software for 1099 Workers and Independent Contractors

SnapTax uses current tax rules and standard self-employment calculations to generate estimates. While it isn't a substitute for professional tax advice, it is designed to give independent contractors a clear, realistic picture of what they should be saving based on a combination of your actual Net Income as the year progresses and projections for the remainder of the year on what you THINK your income will be.

SnapTax was built for 1099 workers, freelancers, and sole proprietors who want simple, accurate tax planning without accounting software. Whether you're just starting out with basic quarterly tax tracking on the Starter plan, or ready to manage expenses, P&L, and depreciation on the Builder plan — SnapTax was designed for solo business owners who want clarity, not complexity.

SnapTax uses a combination of your actual income and expense data that you will enter monthly and three different estimation options for future months so you can choose the estimation method that makes the most sense for your business. Updated actuals every month combined with estimated future months gives you the most accurate tax liability calculations versus a flat savings percentage. The income, expense and quarterly tax payments are stored for every year for historical reference and for exporting to give to an accountant for tax filing.

No - SnapTax is not accounting software, it was built with simplicity in mind and powered by AI so you do not have to be a bookkeeping expert, freeing you up to focus on your business and not your finances.

Bookkeeping software tracks invoices, bill payments, and balance sheets — most of which freelancers don't need. SnapTax focuses on what actually matters for 1099 workers: AI-powered expense categorization, automatic P&L reporting, real-time tax estimates, and depreciation tracking — all without accounting jargon or a learning curve.

No - SnapTax is a tax planning tool, not a tax filing service. It helps you stay prepared throughout the year so when it is time to file, you already know what to expect. Your income and expenses have been tracked and organized to present to your accountant or use to file with TurboTax. And you can link to the IRS right from SnapTax to make your Quarterly Tax payments to make it even easier.

Yes, business expenses can significantly reduce how much tax you owe as a self-employed 1099 worker. By tracking income and expenses throughout the year, SnapTax helps you to see how deductions affect your taxes so you can make better decisions about saving and spending. It also helps you see the health of your business by tracking your net income (profit) for the year.

Today, SnapTax does not support connecting bank accounts, however, we do make it easy to just drag and drop a banks statement right into Snaptax and the tool will read those files and auto-categorize your statement. In a future version we will add that capability and it will be an optional feature you can choose to securely add or leave turned off.

Upload your bank statement directly into SnapTax and the AI reads each transaction and automatically assigns it to the right expense category. You can review and adjust any category with one click, and set a business-use percentage for mixed personal and business expenses. Most users are fully set up in minutes.

Yes — the Asset Tracker lets you enter any business purchase and walks you through a simple wizard to determine the best depreciation method, whether that's Section 179, bonus depreciation, or straight-line. Your depreciation deduction flows automatically into your tax estimate so you can see your tax savings in real time all year long.

Your Profit and Loss report shows all categorized business income and expenses for the month or year, with only the business-use portion included. It updates automatically as you categorize expenses and is formatted to hand directly to your accountant or use for tax filing — no extra work required.

SnapTax uses current 2026 federal and state tax tables and adjusts your effective tax rate automatically as your income changes throughout the year. You never have to look up your tax bracket or do the math yourself — SnapTax recalculates everything in real time based on your actual numbers.