Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have the budget to engage an accountant making it your own can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do ?
We can always make life easier with tools such as TaxJar.
This article will take a look at this life-saving device and how it can benefit you. While this is a long read but you’ll be able to assess whether TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then let’s get right into it.
What is TaxJar? Agilebts, Llc And TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few just a few 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 used extensively by online business owners to ensure that everything is simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure you have a tax accounting platform perfectly integrates with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. So, there’s no requirement to collect information from multiple sources and then organize it on a single platform. All you have to do is integrate TaxJar it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. For our review we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns The team will guide you on managing these. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar is there to provide guidance on what you should do but not handle it.
If you 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 taxes on sales in order to record and process them. However, there might be extra fees if not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be put together into one dashboard using this platform. From there you and your staff will have access to everything you require, including the list of transactions, reports, and the data.
The greatest benefit of 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 and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the total sales tax within your company. Additionally, you can export the data in CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents when you need them in the event of a need. Even if you already have your accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also for anything that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more information. Additionally their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial 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 what each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They claim that it’s the best plan to help you with filing requirements or reporting. It includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small company owner, this plan will be perfect for you. It might not include all the features of TaxJar, but it has the basic features you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for something that is more than the basics, then the Professional plan might be the right one for you. It starts at $99, however, it could go up when you add additional features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to go for premium plans instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations API integrations, team users as well as AutoFiles.
They also have a team who are devoted to managing your account. They don’t reveal the price of the Premium plan. is going to cost. Agilebts, Llc And TaxJar
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ according to what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service 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 sum it all up we’ll go over the advantages and disadvantages of using TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it aid in tracking your revenue and products however, it will also help you meet the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can help you save more time while keeping the track of each deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will certainly help you to get your mind around it. Agilebts, Llc And TaxJar
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ Agilebts, Llc And TaxJar
Which areas does TaxJar provide API assistance?
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 to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar will calculate the tax.