Taxes have always been among the most difficult things to handle, whether you’re running a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the funds to engage an accountant performing the task on your own can be risky. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
We can make our lives easier with tools such as TaxJar.
This article will take a look at this popular life-saving device and how it can help you. While this is an extensive read it is possible to assess whether TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar? 6 Tax Chart
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s take a look at their features and services.
Services and features
One of the first things you’ll want to check is that your accounting tax platform is compatible with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to gather data from different channels and sort it into a single platform. All you have to do is to integrate TaxJar it will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to file their sales taxes manually or through the AutoFile feature. For this review, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing tax returns for income The team will guide you on how to handle them. But, it is up to you and your staff to finish the tax returns in time. TaxJar will only guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. With this feature, everything will be automated from calculating sales tax in order to record and process it. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. From there, you and your team will have access to all the information you need, like a list of your transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned however, they can also help you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the total sales tax in your business. Additionally, you can export the data in the form of a CSV file, if you want to use it for your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even if you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have to cover other operational expenses.
The best part is that TaxJar offers tutorials and training not only for their platform , but also for anything that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more details. Additionally their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most effective plan to help you with filing requirements and reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small business owner, this plan could be perfect for you. It might not include all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get different from the basics, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to choose the Premium plan instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited integrations with data imports API integrations, team users and AutoFiles.
They also have a team that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan is going to cost. 6 Tax Chart
However, they did say that the plan is custom-made for each user. The cost of the plan will be different according to what you require to run your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is a good fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- You can track several 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 for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then should try this.
Not only can it help you track your revenue and products It can assist you in meeting your deadlines. It is also a great option for accountants as they provide tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline and requirement you have to meet. If you live in an area with complex tax laws, this will definitely help you get your head around it. 6 Tax Chart
However, if managing your taxes is straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure easy to complete, you might be better in doing it all on your own.
FAQ 6 Tax Chart
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in US$. If you’re using a different currency, you will need to convert it to USdollars before TaxJar will calculate the tax.