Do it yourself
With a little help from TaxBuddy
Keep tax simple and spend little time doing it
When you earn money, you have to pay income tax. When you’re self-employed you need to work out how much tax to pay and when to pay it. And this can be a time consuming and mind bogging job for anyone who’s not an accountant.
The Do It Yourself Plan from TaxBuddy makes tax easier. In one overview it tells you how much money to put aside each month for income tax. No more manual calculations. No more spreadsheets. No more surprises (or penalties!) from IRD.
TaxBuddy’s DIY Plan helps you:
Know exactly how much tax to put aside each month
Be ready for your end of year tax bill. TaxBuddy calculates how much to put aside each month based on real time figures. This accumulates to a total amount that reflects your end of year tax bill. Pay tax in time and minimise penalties.
Pay tax in time and minimise penalties
TaxBuddy reminds you when deadlines are coming up tells you exactly how what to pay and when, reducing the risk for penalties to a minimum.
Know whether you have to pay provisional tax – and how much
If you had to pay more than $2,500 income tax at the end of the year, you need to start paying provisional tax. TaxBuddy tells you when this is the case. Don’t overpay. Don’t underpay. Read more about provisional tax.
Don’t overpay. Don’t underpay
TaxBuddy allows you to enter income and expenses expected in months to come, so your calculation is even more precise.
For both Xero and non-Xero users
TaxBuddy integrates with Xero, which means TaxBuddy pulls figures directly from your accounting software. If you don’t use Xero, all you need to do is copy some figures in to TaxBuddy. From then on, you get to enjoy the same benefits.
How it works
- Register for TaxBuddy and link with your Xero account.
- Your figures will be visible in TaxBuddy.
- In one overview TaxBuddy tell you how much income tax you owe – put that money aside for your end of year tax bill or your provisional tax payment.
- Fine tune your provisional tax: enter income and expenses you expect in the coming months for a more accurate calculation.
- Every month TaxBuddy emails you a report on much money to put aside and it sends you payment reminders.
Business Owner Plan
-DO IT YOURSELF-
Use TaxBuddy to do your own tax cash flow planning.
$6.50 / month + gst
One organisation included
Unlimited Data Storage
Start with a 60 day trial.