Taxes have always been among the hardest things to do regardless of whether you run a business or not. More so if you don’t have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to engage an accountant doing it on your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Even though this is a long read, you should be able to determine if TaxJar is what you need today.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? 5 Tax Bracket
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all the sales channels you use to ensure that you are in compliance with sales taxes. 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, and even medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check is your tax-reporting system is compatible with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one place. This means that there is no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar, it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. In our review we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns The team will guide you on managing the tax returns. However, it will be up to you and your team to complete everything in time. TaxJar is there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. This feature will ensure that everything is automated, from calculating sales taxes through recording, and then processing them. There could be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through 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 information.
The greatest benefit of this option is the fact that they allow you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated, but they also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the total sales tax within your company. Additionally, you can export the information in a CSV file, if you want to use it in your accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to scramble for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything related to sales tax. Check out their guides, webinars, and blog for more information. In addition the sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale company proprietor, then this program will be perfect for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration features.
If you’re looking for something different from the basics, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose an upgrade instead. It has all of the features you need to help with your taxes. Moreover, they allow unlimited data import integrations as well as API integrations, team users as well as AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. is going to cost. 5 Tax Bracket
But they did state that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require for your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to gauge whether the software is an excellent fit for you.
Pros and Cons
We’ve covered everything you should know about TaxJar Let’s relax. To summarize, here are the pros and cons of the use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only will it help you track your revenue and products, but it can help you meet the deadlines you set. It is also a great option for accountants as they have a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar will help you save more time while keeping the track of each deadline and requirement you have to meet. If you live in a place with complicated tax regulations, this will certainly help you to get your head around it. 5 Tax Bracket
If handling your taxes is straightforward and straightforward, 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 everything. If you find the whole process easy to do then you’re better to do it on your own.
FAQ 5 Tax Bracket
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into US$ before TaxJar will calculate your tax.