Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. If you don’t have enough money to hire an accountant, making it yourself can be dangerous. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can help you. Although this is quite a long read but you’ll be able to assess whether TaxJar is the tool you require in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar 7 Tax Chart
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales tax requirements. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll want to check is that your accounting tax platform perfectly integrates with your sales channel. If you have multiple sales channels, you must maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your key data in one location. That way, there’s no requirement to collect information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. In the purpose of this article, we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on how to handle them. However, it will be up for you and your staff to complete everything on time. TaxJar is only there to provide guidance on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing them. There could be extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team can access everything you require, including a list of your transactions, reports and information.
The best part about 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 collected, but they also help you determine when your next payments are due.
Their dashboard also allows you to fully view the overall sales taxes within your company. It is also possible to export your data to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to search for your documents when 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 your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have for other operational costs.
What’s more is that TaxJar offers tutorials and training not only for their platform but all things that has to do with sales tax. Check out their webinars, guides, and blog for more info. 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 determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the best plan to help you in filing and reporting. It includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller business manager, the plan could be ideal for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration features.
If you’re looking to get different from the basic features Professional could be the one for you. It starts at $99, but it can go higher if you add custom features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s options, you also have access to their phone customer support access to APIs, as well as sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to opt for an upgrade instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrationsfor team members, and AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge how much the Premium plan costs you. 7 Tax Chart
But they did state that the plan is custom-made for every user. So the costs will vary according to what you require for your business.
Fortunately, you don’t need to risk your money to see if this platform is for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to determine whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features help 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 is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it help you track the sales and profits of your business It can also help you meet your deadlines. It’s also an excellent option for accountants as they provide tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax regulations, this will definitely help you get your mind around it. 7 Tax Chart
If handling your taxes is straightforward and 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 all of it. In addition, if you find the entire procedure simple to follow then you’re better to do it by yourself.
FAQ 7 Tax Chart
Which areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar will calculate your tax.