Wow!!!! Pumped to see TaxBestimates on Product Hunt.
I usually get a lot of questions from my friends and family wondering how they’re doing on their taxes. Some of the more common questions I get are, “How much am I going to owe?” or “How much of a refund am I going to get?” and “How much should I withhold on each paycheck?” The answers to these questions aren’t at all straightforward or easy to explain.
My team and I built taxbestimates to solve a few problems that everyone who pays taxes faces which include: a lack of transparency into your tax position throughout the year, overpaying your taxes throughout the year, lack of understanding your tax withholdings on your paycheck, and the tax filing process in general.
Today we launched our MVP and can be used by 1040ez filers who worked and live in CA (don’t worry, the app will let you know if you qualify to use the web app). With taxbestimates, you’ll be able to do the following: see your tax position in real time (full transparency, view tax options that pertain to your tax position, increase your take home pay by adjusting your payroll withholdings to the correct amount, and soon you will be able to e-file your Federal and State tax return with the click of a button (we’re about 70% through the process with the IRS).
FEEDBACK PLEASE- some of our best progress has some from the crappiest feedback. We will probably appreciate the people who hate our product the most, as long as you tell us why. :) Also feel free to ask me anything and let me know what you think the product is missing.
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@s2mmy2 Can I bribe you to roll this out to the states where my relatives live next?
@kkdub Sure you can 😄. We plan to move into different states as soon as we're able to prove the concept in California. Which states do your relatives live in?
@ianmikutel hey Ian, That's really easy to do actually. The software is currently set up for CA but since Washington does not have a state income tax, you could still use it and disregard the state information.
@ianmikutel We're set to officially launch TaxBestimates March 1 which will support WA State. We've been a big hit with the folks at Boeing. Let me know if you're interested in taking a look at the platform and see the cool updates before we launch.
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that is a pretty cool idea any plans to expand it to other countries?
@davidiwanow Thanks, we're solving a problem that we think needs to be solved. I don't mean to be too secretive, and although we won't be rolling out the software to tax jurisdictions outside of the U.S, I can say that it's on our product roadmap to offer the current platform in different languages.
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@s2mmy2 that's a shame I think the same problem needs to be solved in other markets but good idea to get it right in one market first before over-extending your reach
@davidiwanow totally agree. We want to be the Amazon of taxes, which is providing a tax solution for every taxpayer in the world, but for now, we're trying to be the Amazon of California. 😄 Which country would you want us to move into next?
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@s2mmy2 since I live in Amsterdam I would vote for NL... but I assume you would want to focus on regions that allow you to reduce your tax more easily... maybe explore Australia
@davidiwanow That is correct. Also, my team and I are very familiar with the US tax code and not so much with the coda in NL. We eventually want to become the Amazon of Taxes and provide a tax solution of every person in the world. Stay tuned and thanks again for your insight.
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Hunter
@s2mmy2 Could you help explain a bit of background about why you made TaxBestimates?
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Baron Fig
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