Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to engage an accountant making it your own could be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
What can we do about it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. Even though this is a long read, you should be able to gauge whether TaxJar is what you need today.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? 6 Tax Rate
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more organized and straightforward. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting software seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one place. This means that there is no need to gather data from different channels and then organize it on one platform. All you have to do is connect TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income The team will guide you on how to handle the tax returns. However, it will be up to you and your team to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales taxes to recording and processing it. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as a list of your transactions, reports and data.
The best part about this feature is that they allow you to update automatically every day. Not only can they help you keep track of how much you’ve earned however, they can also help you determine when your next payment is due.
The dashboard allows users to view in detail the total sales tax in your business. It is also possible to export the information in CSV format. CSV file in case you require it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to search for your documents when you need them in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but all things that has to do with sales tax. Check out their webinars, guides, or blog posts for additional information. Apart from that their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set 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 examine TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the best plan if you need help with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller company proprietor, then this program could be ideal for you. It may not have all the features of TaxJar, but it has the basic features you require.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get different from the standard features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the original plan?
In addition to accessing each of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to go for premium plans instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, API integrationsfor team members as well as AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal how much the Premium plan will cost you. 6 Tax Rate
But they did state that the plan is custom-made for every user. So the costs will vary depending on what you need for your company.
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 considering various options, they provide a 30-day free trial. This should give you enough time to determine if the platform is the right choice for you.
Pros and Pros and
After we’ve gone over everything you need to 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.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue, but it can also help you meet your deadlines. It’s also an excellent option for accountants as they have tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar will help you save more time while keeping track of every deadline or requirement you need to meet. If you’re in a place with complicated tax laws, this will surely help you wrap your head around it. 6 Tax Rate
If handling your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow, you might be better off doing it on your own.
FAQ 6 Tax Rate
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar determines the tax.