Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, making it yourself can be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to skipping this step. However, since it’s mandatory, we have no choice.
So , what can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. Even though this is an extensive read but you’ll be able to determine if TaxJar is what you need in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar Actual Taxed TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it in all of your sales channels to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check is your tax-reporting software is compatible with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. So, there’s no need to gather data from different channels and sort it into one platform. All you need to do is to integrate TaxJar, and the platform 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 are able to integrate with:
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage them. But, it is up to you and your team to complete the process in time. TaxJar will only guide you on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your team can access everything you need, such as a list of your transactions, reports and data.
The best part about the feature you’ve chosen is they allow you to automatically update every day. Not only can they help you know how much you’ve earned, but they also help you determine when your next payment is due.
The dashboard allows you to fully view the sales tax totals for your business. Additionally, you can export the data to CSV format. CSV file in case you require it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. It means you don’t need to search for your documents whenever you’re in the event of a need. Even when you already have your accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but all things related to sales tax. You can check out their webinars, guides and blog for more info. Apart from that the sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, 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 with filing requirements or reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan could be perfect for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for something that is more than the basics, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge business, you might need to choose the Premium plan instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a team that is devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. Actual Taxed TaxJar
But they did state that the plan is custom-made to each user. The cost of the plan will be different in line with what you require for your company.
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 looking into other options, they have a 30-day free trial. It should give you enough time to see if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. To summarize we’ll go over the pros and cons of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to meet. If you live in a place with complicated tax regulations, this will definitely help you get your mind around it. Actual Taxed TaxJar
However, if managing taxes is easy, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
FAQ Actual Taxed TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind 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 will need to convert it into USUSD prior to when TaxJar determines your tax.