The idea of “adulting” might be annoying, but the reality is inevitable. Being an adult requires us to deal with the big, scary stuff like paying our own bills, buying our groceries, and *gasp* filing and paying taxes. Just thinking about the hassle of going to BIR is enough to give anyone a nightmare; what more if you don’t know the basics? In a country where everything seems to go wrong, Taxumo does something right.
Taxumo is a website that helps small business and freelancers keep track of their income and expenses, fill out their tax forms (assuming the business is already registered), and pay their monthly percentage and quarterly income tax dues on time. Started by EJ Arboleda (now the CEO of the company), the website was actually conceptualized to help his wife Ginger (Taxumo’s Chief Operating Officer) with accounting and tax payment for her events company. Their team also includes Chief Marketing Officer Evan Tan, Chief Financial Officer Mark Ong, and Chief Legal Counsel Atty. Kevin Baldonado.
They are working to help people cope with taxes, and inspire more people to make their dreams of owning a business possible. Well, who wouldn’t? It’s easier than managing multiple social media accounts or dealing with your clients. All you have to do is sign up to their website, and fill in the necessary business details like your income source, the nature of your company, and your TIN number. The rest of the process will happen as you do your business. You can add or edit and income or expense as it happens. There is also a real-time computation of your taxes due, so you can set aside money to avoid getting bill-shocked. Because, you know, that’s what adults do. If you live in Metro Manila, Taxumo can even process your payment for you. No need to brave the long bank lines or the BIR just for one transaction.
If you want to know more about the process, we partnered with Mark Ong of Taxumo to create a cheat sheet for small businesses and freelancers. Who knows, maybe you’ll be a tax expert in no time.