dotdailydose
Are taxes a pain for you? You’re not alone.
According to the recent study by PwC and the World Bank entitled “Paying Taxes 2017”, it takes 186 hours to follow tax payments in the Philippines. With the Philippines ranking at 115 in the study, we are behind our neighboring countries Singapore (8), Indonesia (105), and Thailand (109).
The stress we face comes tax season meant losing precious time and money we could’ve allotted instead for our business. Scheduling business trips and meetings around tax deadlines every month, dedicating at least half a day so to follow our tax obligations. Failure to pay taxes on time also incurs penalties.
Solo proprietors, self-employed professionals, and freelancers suffer the most. On top of running their businesses, they have to process 16 forms at the Bureau of Internal Revenue (BIR) every year.
A Better Way to File and Pay Taxes
Enter Taxumo (www.taxumo.com): an online, DIY tax assistance platform for registered solo entrepreneurs, self-employed professionals, and freelancers.
Through Taxumo, they only need to put in their income and expenses, and the system immediately computes their tax dues. That includes their monthly percentage sales tax (2551M). their quarterly income tax (1701Q)–and soon, their annual income taxes (1701).
Taxumo, through its simple and easy-to-understand dashboard, also reminds them when they need to pay. They no longer need to go to the BIR office or the bank to pay their tax dues. Only a few clicks. and they can process everything without leaving their homes or offices.
“We know how it feels to stress about taxes. since we experienced it firsthand,” says EJ Arboleda, founder and chief executive officer of Taxumo.
“My wife and Taxumo co-founder Ginger used to worry all the time about paying her taxes for her other startup, Manila Workshops. Because I wanted to help her. I created a simple application that ran on her computer. It was enough though to remove a huge bulk of the stress and enable her to focus and grow Manila Workshops,” he mentions.
“Then we thought, imagine how many people could enjoy something like this! This grain of an idea became bigger and evolved into the Taxumo we have today,” Arboleda further reveals.
Focus on Your Passion, Worry Less About Taxes
Paying taxes is a way to help our country—and Taxumo empowers people to do that easily. It has a very nice user interface and it’s very intuitive. It tells you exactly what to do, and what you need to pay.”
Frances Sale, TopazHorizon.com writer and editor and also one of Taxumo’s new ambassadors says: Taxumo has helped me really pursue my passion. and not worry about the nitty gritty and yucky stuff of business. Because I don’t have a team to help me. It‘s great that I can partner with another entity who can fix everything else for me. Now that I don’t have to worry about taxes, then all my passion, all my energy, all my time can go to my business-and most importantly to my family.
Taxumo ambassador, yoga teacher, and Treehouse Yoga studio owner Rach Bonifacio has loved her Taxumo experience so much, she tells her friends to use it too: I would tell them, ‘You know what, paying taxes should not be a pain every month.’ You can just go online and submit it–it’s easy as that.
Save Money with Taxumo’s Accessible Subscription Plans
What makes Taxumo more enticing than the ease of its use and the accessibility of the platform? It is easy on the pocket too.
“We have two subscription plans, the Basic and the Premium plan,” shares EJ.
The Basic plan allows you to track your income and expenses, check your withholding taxes (2307), and file your 2551 M (monthly percentage taxes) as well as your 17010 (quarterly income taxes). You can also delegate access to other people using the Basic plan.
The Basic plan comes in two tiers: Monthly and Annual tier. The Monthly Basic tier costs P1,295 per month. Meanwhile, the Annual Basic tier costs about P375 per month for a whole year (billed as a one-time payment of P4,495.)
Meanwhile, the annual Premium plan is around P795 per month, billed as a one-time payment of P9,495.
With the Premium plan, you get every feature included in the Basic plan, plus the capability to file your annual income tax returns (1701).
“We designed Taxumo to help every solopreneur, self-employed professional, and freelancer. With our affordable subscription plans which enables access to the many features on the platform, we hope everyone can begin to focus more on their passion and worry less about their taxes,” ends EJ.
