Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have a background in finance or accounting. Tax-related issues aren’t easy, particularly when you’re packed with things to do. If you don’t have the funds to engage an accountant making it your own could be risky. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to skipping this step. But since it’s required and mandatory, there’s no other choice.
What can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. While this is lengthy but you’ll be able to determine if TaxJar is exactly what you need today.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar? 0 Tax Rate
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to ensure compliance with your sales taxes. It streamlines processes that require days to complete and finish within minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is that your accounting tax system seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to display your most important data in one location. So, there’s no need to collect data in multiple channels and organize it into one platform. All you have to do is connect TaxJar it will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to manage them. But, it is up to you and your team members to complete everything in time. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating taxes on sales to recording and processing them. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. The orders you place through your online channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you require, including an inventory of your transactions, reports and the data.
The most appealing aspect of this feature is that they allow you to automatically update every day. Not only can they help you know how much you’ve accumulated however, they can also help you keep track of when the next payments are due.
The dashboard allows you to see the overall sales taxes in your business. It is also possible to export your data as a CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. This means that you don’t have to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational costs.
The best part is that TaxJar provides training and tutorials not only on their platform, but all things related to sales tax. You can check out their guides, webinars, and blog for more details. Additionally their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most suitable plan for you to help you in filing and reporting. It comes with sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a smaller business owner, this plan will be perfect for you. It might not include all the features of TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something a bit more than just the basic features Professional might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the starter plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to choose an upgrade instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations as well as API integrationsfor team users and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose how much the Premium plan costs you. 0 Tax Rate
However, they did say that the plan is custom-made to each user. So the costs will vary in line with what you require to run your business.
Luckily, you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to see whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of your products and revenue It can also help you meet your deadlines. It’s also an excellent platform for an accountant since they have tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this can certainly help you to get your head around it. 0 Tax Rate
But if handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire process easy to do, you might be better in doing it all by yourself.
FAQ 0 Tax Rate
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar will calculate your tax.