Free online bookkeeping site Outright.com has added its first fee-based service for small business owners.
Outright provides online tools to help small businesses track and manage their finances. The company focuses on single-owner enterprises that require accounting systems that are fast and easy to use. The Outright.com site imports data directly from the user's bank or other financial services provider to populate reports and tax forms. (Finovate 2009 video here.)
The company's new service helps business owners manage 1099 tax forms for contractors. Using data from the W-9 forms that businesses collect from employees, Outright.com automatically fills out the required IRS 1099-MISC forms, electronically files them with the Internal Revenue Service, and sends copies directly to the contractors. (See screenshot #1 below.)
Unlike other services at Outright, the 1099 tax form product isn't free. The company charges $5 per filing. But for each contractor that joins Outright, the company will refund the fee. Outright plans on introducing more fee-based services in the future.
Along with the launch of its 1099 service, Outright also launched a new tax information website, Right Taxes Now. The new site provides tax advice and offers opportunities to sign petitions regarding small-business tax-relief legislation. It also provides links to services offered at Outright.com. (Screenshot #2)
Both the new tax product and the Right Taxes Now website should help bring users to Outright's site. According to traffic data from Compete, Outright.com saw about 54,000 unique visitors in December, down from its 2009 peak of nearly 71,000 in November. The Right Taxes Now site was launched on January 20 and traffic data is not yet available.
Compete.com, January 2010, traffic data here
#1. Outright's 1099 tax service
#2. Links to Outright from Right Taxes Now
#3. Outright.com helps users track income...
#.4 ... and expenses
