Every time you get paid, Lili can set aside a predefined percentage, of your choice, for your future taxes.
There are two options:
- Main Menu > tap on the Tax Bucket
- Business Tools tab > find the Tax Bucket section
You will be asked to choose the percentage you’d like to set aside from each business income received (the deposit must be categorized as business income). The money in the Tax Bucket remains available to you at all times.
- sign into Lili's app
- choose the Business Tools
- tap on Check Your Bucket
- you will be redirected to the Tax Bucket hub
- you’ll see the option called Modify Percentage. Choose it.
- Follow the steps to change the percentage of a deposit saved to the tax bucket
Lili provides a monthly account statement for your Tax Bucket. Here are instructions on how to download the Tax Bucket statement:
Go to the Main Menu > Statements & Reports > Choose the Statements option > Tax Bucket. Select the month for the report. The report will open on your mobile and you can choose to download the report or share it via email, a messaging app, etc.
Note: the tax bucket feature is available to customers that have a Lili Premium, Lili Smart or Lili Pro plan.
Lili is a technology company and not a bank. Banking services are provided by Choice Financial Group, Member FDIC. The Lili Visa® Business Debit Card is issued by Choice Financial Group, Member FDIC, pursuant to a license from Visa U.S.A.