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Everyone knows taxes can be tedious, challenging, and frankly anything but enjoyable especially for taxpayers in Mexico.
Enter Taxo, revolutionizing the tax experience by making it easier to understand and manage. Taxo's platform automates individual tax processes, empowering accountants to boost their efficiency and expand their client base.
Inspiration Behind Taxo
The inception of Taxo traces back to Ecuador, where David Paredes, Co Founder of Taxo, ran a traditional accounting firm named ContApp. Observing the inefficiencies in manual tax preparation, David began developing an in-house digital platform to simplify these processes. "We identified that with the same team, we could triple the number of clients," explains Constanza Martinez, Co Founder of Taxo. This realization laid the groundwork for Taxo, highlighting a widespread problem in the accounting industry: the need for efficient, digital tax solutions.
How Taxo Works?
Detailed process at how Taxo makes tax preparation easier and more efficient:
1. Mass Download of CFDIs
TaxoBot, the platform’s automated system, can download your clients' Comprobantes Fiscales Digitales por Internet (CFDIs) directly from the Servicio de Administración Tributaria (SAT) in bulk. This means you can gather all necessary invoices in one place, easily checking and exporting them in PDF and XML formats as needed.
Additionally, Taxo allows you to extract the Compliance Opinion and Proof of Tax Situation for your clients from the SAT, streamlining the documentation process.
2. Automatic Tax Calculation
Taxo simplifies the tax calculation process. Whether you're preparing monthly or annual declarations, Taxo handles it with just a few clicks. The system automatically identifies the taxpayer’s regime and economic activity, and it takes into account the details of CFDIs, payment supplements, and withholdings. This automation ensures that calculating taxes like ISR, VAT, and DIOT is fast, easy, and accurate, saving accountants significant time and effort.
3. Notifications of Tax Obligations
Taxo enhances communication with clients by sending personalized tax obligation notifications. Users can share tax reports and invoices, trigger email alerts, and provide clients access to issue invoices, download CFDIs, their Tax Situation Certificate and Compliance Opinion directly from the Customer Portal. This keeps clients informed and involved, improving the overall experience.
4. Electronic Billing
Taxo supports electronic billing, allowing you to issue CFDIs from anywhere, at any time. You can create various types of invoices, including 4.0 invoices, credit notes, shipping letters, payroll receipts, and fee receipts, with full connectivity, ensuring that your billing process is seamless.
