We get that it’s tiring to spend countless hours wrestling with paperwork and crunching numbers to file your annual income tax return.
Especially if you’re doing traditional methods, this tedious and confusing process can easily overwhelm and stress you out. But there’s a better way for you to do taxes digitally.
Let’s take a moment to reflect on the drawbacks of the old-school approach to filing taxes.
BIR has announced of making taxes easier for taxpayers, read all about it here
Using Traditional Methods for Annual Income Tax Filing
Manual Form Filling: Picture this: sitting at your desk with a stack of forms, painstakingly filling in each piece of information one by one. It’s a time-consuming and monotonous task when filing for your Annual Income Tax that can quickly drain your energy.
Computation Confusion: For some people (or most) math and accounting are not their strongest suit. Memorizing complex formulas and navigating through endless tax codes can leave even the most seasoned business owner scratching their head in confusion. Especially when juggling the multitude of accounting basics and ad hoc tasks that come with starting a business.
Handwritten Bookkeeping: In the age of digital technology, the thought of manually inputting your books of accounts (aka handwritten) is a hassle. Yet, for many, this is still the reality. Handwritten records are not only time-consuming to maintain but also prone to errors, potentially leading to costly mistakes down the line.
Now, let’s shift our focus to a brighter alternative – using a digital platform for your taxes.
When it comes to digital tax solutions, Taxumo stands out for efficiency and in simplifying your taxes.
Going Digital for your Annual Income Tax Filing
Automated Calculations: Say goodbye to manual number crunching. File your Annual Income Tax Return with Taxumo to make tax filing easy for you by automatically calculating your taxes for you.
Ahead of tax payables: One of the biggest fears during Annual Income Tax season is knowing how much you need to pay for your taxes a few days before the deadline. But, with Taxumo, you can bid farewell to last-minute surprises and hello to peace of mind. Our platform forecasts your tax dues well in advance, allowing you to plan and budget accordingly.
Loose Leaf Accreditation: Maintaining your books of accounts are easy with Taxumo. You can use Taxumo’s Books of Accounts feature to secure a loose-leaf accreditation from the Bureau of Internal Revenue. Easily input your transactions through the platform and generate and export BIR-formatted reports with just a few clicks. It’s a game-changer for busy business owners looking to minimize their bookkeeping tasks and stay organized.
Learn how to use and set up your Taxumo account here: (https://www.taxumo.com/blog/how-to-file-your-taxes-using-taxumo/)
Empowering Your Tax Journey with Taxumo
Consolidated Tax Reports: No more chasing down your accountant for updates or worrying about missed deadlines. You can assign your accountant as a delegate to keep track of your Taxumo account. This will be easier for you and your accountant in terms of aligning the bookkeeping requirements and transactions. With Taxumo, you can proactively monitor your tax status, assuring you that you can pass accurate reports of your taxes to minimize penalties.
No accountant? No problem: If you don’t have an accountant, Taxumo has an easy-to-understand bookkeeping interface, simplified to those users with non-accountant backgrounds.
Early Remittance: Beat the BIR deadline blues. Taxumo’s tax deadline is days ahead of the actual BIR deadline. By submitting your taxes ahead of schedule, you can avoid costly penalties and ensure compliance with BIR regulations. It’s a simple yet effective way to stay on top of your tax obligations and maintain financial peace of mind.
While the traditional method of filing taxes may have its drawbacks, transitioning to the digital way of filing taxes and utilizing platforms such as Taxumo can streamline the process and alleviate the stress and confusion associated with tax filing.
Make the switch to digital today and take the first step towards a simpler, more efficient tax filing experience. Your future self will thank you for choosing Taxumo.