Why Platforms Should Partner with Everlance for Expense Tracking

Everlance is the best mileage tracker app for independent contractors to track miles, expenses and ultimately save money on their taxes. By partnering with Everlance, platforms can provide their independent contractors with a valuable tool that helps them track and report their expenses accurately and easily. This, in turn, can lead to several benefits for both the platform and its contractors.

Higher Worker Pay

Partnering with Everlance offers significant benefits for both platforms and contractors, but one of the most notable advantages is the cost savings that contractors can enjoy. Independent contractors are typically responsible for their own expenses and taxes, which can quickly add up and eat into their earnings. By using Everlance to track their expenses, contractors can ensure that they accurately report the expenses they incur while working on the platform. This can help them save money on their taxes and maximize their tax deductions, ultimately increasing their take-home pay.

The savings potential offered by Everlance is substantial, with the typical Everlance user saving 15% more of their income by maximizing their tax deductions. This can be a valuable perk for contractors, who may be more likely to choose a platform that offers tools to help them save money and manage their finances more effectively. By partnering with Everlance, platforms can demonstrate their commitment to supporting their contractors and offering them tangible benefits that can improve their bottom line.

Additionally, offering expense tracking tools like Everlance can help platforms attract and retain top talent. Contractors who are able to save money on their taxes and effectively manage their expenses are more likely to be satisfied with their work and more likely to recommend the platform to others. This can help the platform build a strong reputation and establish itself as a leader in its industry, ultimately driving growth and success over the long term.

Higher Contractor Retention

Partnering with Everlance can have a positive impact on contractor engagement and retention rates, which are critical metrics for self employed platform. Historically, Independent contractors who use Everlance are 20% more likely to stay engaged with the platform. By simplifying the expense tracking process, Everlance allows contractors to focus on their work rather than worrying about administrative tasks, which can lead to increased satisfaction and engagement.

The benefits of increased engagement and satisfaction can be significant for platforms, as they can help to reduce churn and increase retention rates. In the gig economy, where competition for talent is high, retaining top contractors is essential for building a successful and sustainable business. By partnering with Everlance and providing contractors with access to powerful expense-tracking tools, platforms can demonstrate their commitment to supporting their contractors and investing in their success. This can lead to increased loyalty and engagement, ultimately driving growth and success over the long term.

Moreover, the ability to track and report expenses accurately helps contractors take more control of their finances and reduce the stress that comes with managing their own expenses. This can lead to increased job satisfaction and overall well-being, further boosting engagement and retention rates. By partnering with Everlance, platforms can create a more supportive and satisfying work environment for their contractors, which can ultimately benefit everyone involved.

IRS Compliance

Partnering with Everlance can also help platforms ensure compliance with tax laws, which is an important consideration for any business that works with independent contractors. Tax laws require independent contractors to accurately track and report their expenses, and failure to comply with these requirements can lead to legal issues and financial penalties for both contractors and platforms.

By partnering with Everlance, platforms can provide their contractors with a powerful and easy-to-use tool for tracking expenses, which can help ensure compliance with tax laws. The app provides a simple and intuitive way for contractors to log their expenses, with features like automatic mileage tracking and the ability to upload receipts and categorize expenses. This makes it easy for contractors to keep accurate records of their expenses, which can help them maximize their tax deductions and minimize the risk of audit or penalty.

Moreover, partnering with Everlance can help platforms demonstrate their commitment to compliance with tax laws, which can help build trust and credibility with contractors. By providing contractors with a tool for tracking expenses and ensuring compliance with tax laws, platforms can create a more transparent and trustworthy working environment for their contractors, which can ultimately lead to increased engagement and loyalty, without taking on the regulatory burdens of providing tax advice to their workers.

Overall, partnering with Everlance can provide platforms with a valuable tool for ensuring compliance with tax laws and protecting themselves from legal issues down the line. By simplifying the expense tracking process and providing contractors with an easy and effective way to stay compliant, Everlance can help platforms build a more successful and sustainable business over the long term.

Robust Reporting

When companies partner with Everlance, they can expect more than just the benefits that come with the app itself. In addition to helping contractors track their expenses and taxes, Everlance provides its partners with detailed reporting on user adoption and retention, total savings, and other demographic data. This type of data reporting helps partners to better understand how their contractors are using the app and how it's impacting their businesses.

Additionally, Everlance provides regular reporting on the total savings that contractors experience by using the app to track their expenses. This can be a powerful selling point for platforms looking to attract and retain independent contractors who are concerned about their expenses and taxes.

Flexible Partner Structures

Everlance is committed to helping its partners achieve success through flexible and customizable partnership structures. The company recognizes that different types of partners may have unique needs and goals, which is why they offer a range of partnership options to suit their diverse needs. From content partnerships to affiliate partnerships and technical integrations, Everlance provides various options for its partners to choose from.

Moreover, the company has a wealth of experience in partnering with companies across different industries and verticals. Everlance has successfully partnered with real estate associations, rideshare companies, food delivery, pet care, fieldwork, sales, hospitality on-demand, and many others. With this extensive experience, Everlance's partnership team is well-equipped to help partners achieve their specific KPIs and objectives. Whether a partner is looking to increase engagement, retention rates, or boost cost savings for its contractors, the partnership team at Everlance can help design a custom partnership structure that aligns with their specific goals.

To learn more, contact our partnerships team here!  Everlance for Partnerships