LOS ANGELES, Aug. 10, 2022 /PRNewswire/ -- ComplYant®, a digital tax assistant for small business owners, announces its new initiative offering free business tax tools exclusively for Los Angeles small businesses on August 10, 2022. ComplYant was founded by Shiloh Johnson, MST, CPA after she noticed a need for a technology platform to help manage complex tax rules and regulations year-round. The FinTech company is on a mission to remove tax barriers for small or underrepresented business owners, by helping them navigate their taxes, anticipate owed taxes, and budget for those ahead of time.
"Over the past year, we've developed unique tax tools, created educational workshops, and partnered with local government organizations to support small business owners in their jurisdictions," states Shiloh Johnson, Los Angeles-based founder and CEO of ComplYant. "Nationwide, there is a yearly 'tax gap' of around $600 billion in taxes that are owed and go unpaid by individuals and businesses. ComplYant is offering this free tool to Los Angeles businesses to help them take control of their financial future, and ultimately support the fiscal health of our community."
As an entrepreneur that supports other entrepreneurs, Johnson understands the financial challenges that come with launching a new venture. There are more than 31 million small businesses in the United States, and they pay billions in tax penalties every year for filing forms or making payments late. Some businesses forget to make payments, while others don't understand enough about the taxes to know that they owe them. ComplYant's digital platform solves this problem by helping business owners streamline their workflow, know what taxes they owe, when they're due, and budget for tax bills ahead of time – all right in your browser.
"It's important for entrepreneurs to tend to their financial health, and how we prepare to do taxes is a huge part of that. Taxes are extremely complex. They're not written in easy-to-understand language; understanding tax types and how to file them isn't accessible to small business owners for a variety of reasons," says Johnson. "By simplifying this process, we're able to reduce tax anxiety and avoidance and ensure that more taxes will be paid on time. ComplYant is working to close the financial education gap for small business owners."
Using ComplYant, United States small business owners can easily manage and take charge of income tax, sales tax, business licenses, annual reports, and more with deadline tracking, budgeting, and easy-to-understand tax education resources. By digitizing and streamlining the business tax compliance process ComplYant has saved thousands of customers over 100,000 hours and over $5.5 million in late fees and penalties each year.
The new tax reminders tool is live now and completely free for small businesses in Los Angeles. Small business owners in L.A. who want to sign up for the free reminders can get them here.
ComplYant is a technology startup putting power back in the hands of small business owners. Founded in LA in 2019, ComplYant wants to upend the status quo that says only big businesses benefit from great tax support. ComplYant was founded by Shiloh Johnson, entrepreneur and former CPA. ComplYant recently closed a seed funding round of $5.5 million led by Craft Ventures with participation from Mucker Capital, Slauson & Co., and Techstars. ComplYant was founded by Grid110, MuckerLab, and Techstars alum Shiloh Johnson. If you're interested in learning more about ComplYant's mission to empower the more than 31 million small business owners in the U.S., check out www.complyant.co.
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