TaxTank Accounting and Financial Management Software: 50% off for First 3 Months

11

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EmployeeLTaxTank on 22/11/2023 - 17:19 taxtank.com.au (82 clicks)
Last edited 22/11/2023 - 17:21 by 1 other user

BLACKFRIDAY23

What is TaxTank?

Built as a modular system, TaxTank lets you manage your different incomes, expenses, properties and investments whilst securely storing receipts and documents year after year to protect against audit from the ATO, and to dramatically increase Financial oversight. It is an extremely powerful cloud-based financial tool, packed with features to assist users to save money on tax, simplify their finances, and promote wholistic financial wellbeing, for as little as $6 per month. (100% tax deductible)

Who Is it for?

• Absolutely anyone who is currently paying tax, and wants to ensure that they are maximising their tax deductions.
• Individuals operating as Sole traders, who require assistance with overall admin of their finances, tracking income & expenses, invoicing, BAS.
• Property, Shares & Crypto investors who want assistance to simplify the administration of their investments in one streamlined platform.
• The perfect solution for those who want to maintain updated knowledge of their financial position, in order to make more informed decisions all year round.

What are the Key Features?

• Access to Live banking feeds, and Property Valuation data via corelogic.
• Powerful Investor tools, (Live Equity Position & Borrowing power calculator).
• Tax Summary reporting which mirrors the 'mytax' ATO portal, to allow for easy lodgement.
• Depreciation Schedules & tools for Property investors and Sole Traders.
• BAS Reporting, Income and Expense management, and full invoice management for small business and sole traders.
• Document storage feature & Budgeting tool (know where your money is being spent)
• Transactions Reports & Vehicle logbook
• Property Performance Reporting & Comparisons (when multiple properties are owned).
• Automatic CGT calculations
• Full Financial Dashboard (manage up to 6 Businesses, and 5 Investment Properties).
• The ability to invite your Accountant/Adviser to view your data within the platform.
• 100% Tax deductible

Take advantage of this fantastic opportunity, and take control of your finances!
3 months @ 50% off (code BLACKFRIDAY23)
www.taxtank.com.au

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TaxTank

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    EmployeeTaxTank @ TaxTank on 23/11/2023 - 09:11

    Hi thanks so much for the fantastic questions! Im lodging them with our program developers , to ensure i come back with the most detailed answers possible! I'll get back to you asap. Thanks so much again .

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      EmployeeTaxTank @ TaxTank on 23/11/2023 - 11:21

      1) dividend re-investments;
      Yes, in TaxTank we have a feature to accommodate share reinvestments. This feature will automatically create a new parcel of shares for the new share allocation, as well as the Dividend income and franking credit which will impact the tax summary.

      2) bonus shares issues;
      Yes, bonus share issues are added in the same way as normal shares. When selecting the Add Buy button a user can select the ticker, buy price per unit and the quantity to create the new parcel in TaxTank. Each parcel is recorded separately to ensure accurate CGT calculations should holdings be sole in the future.

      3) share splits;
      Although the number of shares increases the price is adjusted proportionally so the total dollar amount remains largely the same. Whilst there is currently no separate feature, in TaxTank share parcels can be easily edited to accommodate share splits if they occur.

      4) share consolidations;
      Similar to share splits, a reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares.Whilst there is currently no separate feature, in TaxTank share parcels can be easily edited to accommodate share consolidations if they occur.

      5) Share Purchase plans;
      Yes, share purchase plans are also added in the same way as normal shares. When selecting the Add Buy button a user can select the ticker, buy price per unit and the quantity to create the new parcel in TaxTank. Each parcel is recorded separately to ensure accurate CGT calculations should holdings be sole in the future.

      6) import share holdings from Comsec; and
      We have an import feature being released in the coming week or two. This feature will enable you to download the template with the required fields, or create your own from your commsec export, and then import your holdings into TaxTank.

      7) have reports that show the market value as of today (ie functions similar to Sharesight.com.au)
      TaxTank uses the daily closing price to keep market values current for shares. We display the current market values and total profit/loss percentages for each ticker, you can also drill down into each ticker to see the same information for each parcel of shares purchased. The header summaries the total holdings for each asset class, as well any allocated dividends in the current financial year.

      One of the powerful features of TaxTank is the CGT report which is calculated live and available 24/7. Each time a sale occurs we recalculate the report to ensure the optimum tax position with consideration to available losses and concessions. We also do the same for property to ensure accurate tax planning across all asset classes.

      Another great feature TaxTank offers is ownership flexibility. You can add assets held in your name, as well as those held in other entities like companies or trusts. In TaxTank, only the assets held in your name will impact your tax summary, however you can view and filter your whole portfolio from one dashboard, and also download the CGT report for inclusion in your trust or other tax returns when relevant.

      Oh and the best part, TaxTank’s Holdings Tank module is only $6/month (with no additional costs or upgrades needed to access our CGT report).

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  Kaz0551 on 22/11/2023 - 18:16

  I would need AllTanks, can I cancel after a week if it doesn't satisfy my needs? If you're confident I love it this should be an easy yes….?

  • 

    EmployeeTaxTank @ TaxTank on 23/11/2023 - 09:12

    Hi Kaz! absolutely yes! there is a link on the website to start a free trial. We'd love you to try it!!

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  xdigger on 22/11/2023 - 19:23

  Excel is free. Avoid cloud storage due to hacking liability.

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  travellots on 24/11/2023 - 00:59

  stumbled upon some sweet Black Friday deals in the middle of the night and just had to give a shout-out to this low-key app (I cant believe I actually created an account just to leave this comment)

  Been using taxtank for about 2 years now, first spotted it at Brisbane property expo where they were doing their thing. Started off with the work tank and then ventured into the property tank and dove into the bank feeds (my pals are over there just importing spreadsheets, which cracks me up, lol). It's like a smooth ride, reconciling transactions as you go—work stuff, personal stuff, all in one place. No chance of forgetting those expenses. And when the year wraps up, it spits out this rad summary report that's similar to the tax return form. Deduction items and all. Super easy to copy-paste into your MyGov. Seriously, give it a go if you haven't already. Makes chatting with the tax accountant way smoother, like we're finally speaking the same language…lol

  • 

    Kaz0551 on 24/11/2023 - 13:33

    +1

    You wouldn't be a plant would you?

    Member Since 13 hours 22 min
    Last Seen 12 hours 31 min

    • 

      travellots on 24/11/2023 - 14:26

      you dont sleep?

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    Empharand on 24/11/2023 - 14:27

    Member Since
    14 hours 17 min ago

    Absolutely no way this could be a biased review from an associated user…. No way!
    Totally legit..

    (I cant believe I actually created an account just to leave this comment)

    I can't believe it!