Taxes are always one of the most difficult things to handle regardless of whether you’re running your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the budget to engage an accountant doing it on yourself can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
We can make life easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and explain how it can help you. While this is an extensive read it is possible to assess whether TaxJar is the tool you require in the present.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar 7 Tax Table
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. So, there’s no requirement to collect data from different channels and sort it into one platform. All you have to do is to integrate TaxJar, then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. For our review we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income TaxJar will train you on managing them. But, it is up to you and your staff to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process them. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team can access everything you require, including the list of transactions, reports and the data.
The best part about the feature you’ve chosen is it allows you to update automatically every day. Not only can they help you know how much you’ve accumulated, but they also help you determine when your next payment is due.
Their dashboard also allows you to see the total sales tax within your company. Additionally, you can export the information to the form of a CSV file in case you require it in your process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operating expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform but everything that has to do with sales tax. Check out their webinars, guides or blog posts for additional info. In addition the sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing features, but they can be too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It includes sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small business owner, this plan should be perfect for you. It may not have all the features of TaxJar but it comes with the basic features you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for a bit more than just the basic features Professional might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the original plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone 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 opt for the Premium plan instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations, API integrations, team users and AutoFiles.
They also have a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. costs you. 7 Tax Table
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your business.
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to see if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. To summarize Here are the pros and cons of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. It’s also an excellent option for accountants as they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to meet. If you’re in an area with complex tax laws, this can definitely help you get your head around it. 7 Tax Table
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. If you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
FAQ 7 Tax Table
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions are in USdollars. If you’re using another currency, you will need to convert it into US$ before TaxJar determines your tax.