Taxes have always been among the hardest things to do, whether you’re running your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to employ an accountant, performing the task on your own can be dangerous. If you make a mistake it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can benefit you. Even though this is an extensive read it is possible to assess whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar Alicia Bennett TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to make sure is your tax-reporting platform is compatible along with sales funnels. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. This means that there is no need to collect data from different channels and organize it into one platform. All you have to do is to integrate TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. In this review, we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on managing them. However, it will be up to you and your team to complete everything in time. TaxJar will only provide guidance on what you should do but not 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. With this feature, everything is automated, from calculating sales taxes in order to record and process it. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your staff can access everything you need, like an inventory of your transactions, reports, and information.
The greatest benefit of this feature is that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the total sales tax within your company. Additionally, you can export the data as the form of a CSV file if you need it to aid in financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even when you already have your accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just on their platform, but all things connected to sales tax. You can look through their webinars, guides, or blog posts for additional information. In addition, their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the most effective plan if you need help in filing and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a smaller business manager, the plan should be ideal for you. It might not include all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for a bit more than just the standard features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to opt for an upgrade instead. It has all of the features you need to make your tax filing easier. Moreover, they allow unlimited data import integrations 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 how much the Premium plan is going to cost. Alicia Bennett TaxJar
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- 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 recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have multiple sales channels and uses many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it help you track your products and revenue, but it can also help you meet your deadlines. It is also a great option for accountants as they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Using TaxJar will help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this will definitely help you get your mind around it. Alicia Bennett TaxJar
If handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure simple to follow, you might be better in doing it all by yourself.
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FAQ Alicia Bennett TaxJar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USdollars before TaxJar will calculate your tax.
