Tax
Tax Calculation
Know what you owe before tax season hits.
Tax is one of the three problems that started Sianpay:
"I don't know how to calculate tax."
Most people either overpay (and lose money they didn't have to), or underpay (and face penalties). Both happen because there's no running total of taxable income — until now.
What's coming
Flow will use your transaction history to:
- Estimate your taxable income for the year based on your income transactions
- Identify deductible expenses — business costs, professional fees, and other allowable deductions
- Calculate your estimated tax liability based on your country, tax year, and employment type
- Show you how much to set aside each month so tax season isn't a surprise
Who it's for
- Freelancers and self-employed people with no employer doing withholding
- Employees with side income that needs to be declared
- Small business owners tracking business vs. personal expenses
- Anyone who's ever opened a tax form and had no idea what to fill in
Tax calculation is in development. The more complete your transaction history in Flow now, the more accurate your tax estimate will be when this feature launches.