An income and expense report generated by Lili and the Lili business banking mobile app accounting reports screen displaying a list of available reports, including expense reports, profit and loss statement, statement of cash flows and a pre-filled Schedule C form.

Simplify tax preparation

Tax planning becomes a seamless part of your business operations with Lili, so you can minimize your tax liability and avoid the headache during tax season.

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Tax Bucket
Automatically save for taxes1 throughout the year so your business is prepared to pay the IRS on-time and in full.
Lili Accounting Software icon
Write-off tracker
Instantly sort your transactions into tax categories1, so you can maximize tax deductions and pay only the taxes you owe.
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Pre-filled tax forms
Receive pre-filled IRS tax forms (including Form 1065, Form 1120, and Schedule C)2 based on your transaction categorization.
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Expense reports
Download quarterly and yearly business expense reports from your Lili account, whenever you need them1.

A quicker tax preparation process

Categorizing transactions as you go means approaching tax season ready to file. Your business tax deductions, expense reports1, and pre-filled tax forms2 will be available in your Lili account at the start of tax season, saving you time on tax prep.

The main screen of Lili's tax preparation software within the web platform, displaying net income, income reporting instructions, and a pre-filled Schedule C automatically generated by Lili

Auto-save for tax payments

Be prepared for tax season before it arrives

Preset the amount you want to automatically contribute to your tax bucket each time you get paid1. Avoid stress and a surprise bill during tax season by being prepared throughout the year.

A Lili customer reviewing their tax auto saving percentage in the Lili business banking mobile app, with an overlay of the Auto Saving setting within Lili's Tax Preparation Software.

Smarter tax documents

Avoid the time-consuming and costly process of filling out IRS tax forms.

Lili provides pre-filled tax forms2 including Form 1065, Form 1120, and Schedule C so you can shorten your tax preparation and maximize your tax deductions.

A pre-filled Schedule C form generated by Lili, overlaid by a menu displaying a selection of Account Reports, Statements, Schedule C and a Bank Letter.
"Lili makes a big difference–it helps me separate my personal & business accounts, prepare business expenses, save for taxes."
Lisa Pavlova
Owner, Lisa Pavlova Photography

Frequently Asked Questions

How can I categorize business expenses in my Lili account?
How do I generate expense reports with Lili?
How do I open up a Tax Bucket?
Can I take money out of my Tax Bucket?
How do I get my tax refund deposited into my Lili account?

You can easily categorize business expenses in your Lili account in real-time.

Whenever you spend money from your Lili account, you can categorize the expense as business or personal simply by swiping on your Lili app – swipe left for a personal expense and swipe right for a business expense.