Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. If you don’t have the funds to engage an accountant performing the task on yourself can be risky. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. Even though this is lengthy, you should be able to assess whether TaxJar is the tool you require today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What exactly is TaxJar? 3Dcart TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. This means that there is no requirement to collect data in multiple channels and sort it into a single platform. All you have to do is to integrate TaxJar then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. In our review we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income The team will guide you on managing the tax returns. However, it will be up to you and your team to finish the tax returns in time. TaxJar will only provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating sales taxes to recording and processing them. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be compiled into one dashboard using this platform. From there, you and your team will have access to everything you require, including an inventory of your transactions, reports and information.
The most appealing aspect of this option is the fact that it allows you to update your account automatically each day. Not only will they let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to see the sales tax totals for your business. It is also possible to export your data to the form of a CSV file, if you want to use it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this feature will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operational costs.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but everything that has to do with sales tax. Check out their webinars, guides and blog for more information. In addition, their sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small-scale business proprietor, then this program should be perfect for you. It might not include all the features offered by TaxJar, but it has all the basics you require.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the basics, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the original plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to opt for premium plans instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as API integrationsfor team members as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. 3Dcart TaxJar
However, they did say that this plan is tailor-fit for each user. So the costs will vary according to what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see whether the software is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a breather. To summarize Here are the pros and cons of the use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it assist you in keeping track of your products and revenue however, it will also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can help you reduce time and keep track of every deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your head around it. 3Dcart TaxJar
But if handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow then you’re better in doing it all by yourself.
FAQ 3Dcart TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar will calculate your tax.