Some tax bills arrive once a year or once a quarter, for a large amount: income tax paid after the year, VAT and prepayments for the self-employed. The tax planner spreads that bill over the months before it, so the money is there on the day.
Open the planner
Open Set aside for taxes while signed in. Some tax calculators on this site also carry their result into it with one tap.
- Tax for the year: your last tax bill is a good estimate, or a calculator's result.
- Already set aside: what you have put aside for it so far.
- Bill due in: the month you expect to pay it.
- Choose how (below) and tap Plan it.
Xpenses divides what is missing by the months until then.
Two ways
| As a monthly expense | Into a tax account (Pro) |
|---|---|
| A monthly expense "Tax reserve" until the bill's month. Simple: your month end already counts the money as gone. | A separate account for taxes, kept out of your total, a monthly transfer into it, and the bill as a payment from it in its month. The account shows how much you really have put aside; your month end shows only what is yours to spend. |
A new tax account starts with what you have already set aside. You can also pick an existing account. More about accounts kept out of the total: accounts and transfers.
Quarterly payments
When the planner opens from a calculator for quarterly taxes, it sets aside a third of each quarter's payment every month, with no end date, and on Pro the bill repeats every three months.
When the amount changes
When you know the real bill, edit the monthly expense or the transfer from that month on (editing a bill). Months already passed keep their amount.