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Connie C
Level 2

Quicken vs Quickbooks vs Mint

I have been using Quicken for years for my personal finances and, of course, TurboTax 😀

 

I've started an LLC (state of Louisiana) for my online coaching/training business. 

?? Do I need to switch to Quickbooks (to keep personal and biz separate)?

?? What about Mint? -- that's a new product to me. How does that play into business vs. personal finances/taxes?

 

Thanks for sharing your time and expertise.

You are SO AMAZING!! 😎

1 Reply
LRay_EA
Employee Tax Expert

Quicken vs Quickbooks vs Mint

Quicken is not an Intuit product so I have limited knowledge about it. My understanding is that is is a personal finance program. It looks like they do have a version that includes home and business. QuickBooks is Intuit's product specifically used for business income and expenses. Mint is Intuit's product used to help track your personal financial information. QuickBooks can easily be linked directly to your TurboTax account when you go to file your tax return. Just be sure you use the same version of QuickBooks as you do for TurboTax i.e. Home & Business  and use the same log in information. 

 

Any time you have a business you want to keep income and expenses separated from your personal income and expenses. This will help you know when and how much to report to the IRS in regards to your business and will give your documentation should the IRS ask for proof of income or expenses related to your business. 

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