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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.
Write-off tracker
Instantly sort your transactions into tax categories1, so you can maximize tax deductions and pay only the taxes you owe.
Pre-filled tax forms
Receive pre-filled IRS tax forms (including Form 1065, Form 1120-S, and Schedule C)2 based on your transaction categorization.
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.
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.

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-S, and Schedule C so you can shorten your tax preparation and maximize your tax deductions.

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 the Lili platform – swipe left for a personal expense and swipe right for a business expense.

Discover more for your business

Business Banking
A business checking account that includes a Lili Visa® Debit Card, no hidden fees, and no overdraft fees4.
Invoicing Software
Easily create and send customizable invoices, accept any payment method, track payments and send reminders.
Accounting
Powerful accounting software that makes it easy to keep your books up to date and clarifies your business’s financial position.
Plans
Review the details of each of the account plans offered by Lili and select the plan that works best for your business.
3 steps and you’re in business
Get Started
01
Tell us about yourself

Fill in some basic personal information.

02
Tell us about your business

Share a few details including business type, EIN and industry.

03
Select a plan

Choose the account plan that best fits your business.

Contact Us

Email Our Support Team or Call Us

Mon – Friday, 9am – 8pm EST

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Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC. The Lili Visa® Debit Card is issued by Sunrise Banks, N.A., Member FDIC, pursuant to a license from Visa U.S.A., Inc. The Card may be used everywhere Visa debit cards are accepted.

Wire Transfer service provided by Column Bank N.A., Member FDIC. All wires are subject to acceptance criteria and risk-based review and may be rejected at the sole discretion of Column Bank N. A. or Lili App Inc.

1 Eligibility for cashback awards is available to Lili Pro, Lili Smart, and Lili Premium account holders only; applicable monthly account fees apply. For details, please refer to your Sunrise Banks Account Agreement.

2 Accounting, tax preparation and invoicing software is available to Lili Smart and Lili Premium account holders only; applicable monthly account fees apply. For details, please refer to your Sunrise Banks Account Agreement.

3 The Annual Percentage Yield (“APY”) for the Lili Savings Account is variable and may change at any time. The disclosed APY is effective as of October 1, 2024. Must have at least $0.01 in savings to earn interest. The APY applies to balances of up to and including $100,000. Any portions of a balance over $100,000 will not earn interest or have a yield. Available to Lili Pro, Lili Smart, and Lili Premium account holders only; applicable monthly account fees apply.

4 BalanceUp is a discretionary overdraft program for debit card purchases only, offered for Lili Pro, Lili Smart, and Lili Premium Account holders; applicable monthly account fees apply. You must meet eligibility requirements and enroll in the program. Once enrolled, your Account must remain in good standing with a deposit and spending history that meets our discretionary requirements to maintain access to the feature. BalanceUp overdraft limits of $20-$200 are provided at our sole discretion, and may be revoked any time, with or without notice. Please refer to our BalanceUP Service Disclosure for more details.

5 Early access to ACH transfer funds depends on the timing of the payer’s submission of transfers. Lili will generally post these transfers on the day they are received which can be up to 2 days earlier than the payer’s scheduled payment date.

6 Up to $1,000 per cardholder per 24 hours period. Some locations have lower limits and retailer fees may vary ($4.95 max). Note that Lili does not charge transaction fees.

7 Lili AI and other reports related to income and expenses provided by Lili can be used to assist with your accounting. Final categorization of income and expenses for tax purposes is your responsibility. Lili is not a tax preparer and does not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your specific situation.

8 Lili does not charge debit card fees related to foreign transactions, in-network ATM usage, or card inactivity, or require a minimum balance. The Lili Visa® Debit Card is included in all account plans, and remains fee-free with the Lili Basic plan. Applicable monthly account fees apply for the Lili Pro, Lili Smart, and Lili Premium plans. For details, please refer to your Sunrise Banks Account Agreement.

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