Generate a quick annual summary
If you need to quickly see the total amount spent or earned for a specific set of categories for the entire year for tax reporting you can do this easily with a pivot table by year in a Google Sheet.
If you’re just starting out with Tiller you’ll only see about 90 days worth of data. Use these steps to get your entire reporting year into your sheet.
- Add the year column to your Transactions sheet
- Select all the data in your Transactions sheet by clicking the square above row 1 and to the left of column A
- Open the Data menu and choose “Pivot table,” which will create a new tab in your spreadsheet.
- On the pivot table configuration sidebar choose “Category” for the row.
- Choose “Year” for the column.
- Choose “Amount” for the values.
- Add any filters you may want to further filter the data like the year or certain categories.
Generate a detailed itemized deduction report
If you itemize your tax deductible spending instead of taking the standard deduction you can use Tiller’s Category Rollup report for a detailed analysis of your itemized spending for tax time reporting.
Note : consult with a tax advisor or account regarding what types of spending are eligible for itemization on your tax return.
- Add the Tags column to your Categories sheet.
- Tag categories as “Tax” that you want to include in the itemized deduction reporting.
- Configure the Category Rollup report using the “only categories tagged Tax” option for the tax reporting time range.
- Generate the Category Rollup report
- Export to PDF or share your sheet with your accountant.