Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. If you don’t have the budget to engage an accountant performing the task on your own can be dangerous. If you make a mistake, you might have to redo things again!
Most people want to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
We can make our lives easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can benefit you. Although this is quite a long read it is possible to assess whether TaxJar is the tool you require in the present.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? Application Process At TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. 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 is that your accounting tax software perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. This means that there is no requirement to collect information from multiple sources and organize it into one platform. All you need to do is integrate TaxJar, it will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect those sales tools. Once the time comes for filing tax returns for income The team will guide you on managing them. It is up to you and your staff to complete everything within the timeframe. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything will be automated from calculating sales tax through recording, and then processing it. There could be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there, you and your team will have access to everything you need, such as the list of transactions, reports and information.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to fully view the sales tax totals within your company. It is also possible to export the information in a CSV file if you need it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything related to sales tax. Check out their webinars, guides or blog posts for additional info. Additionally, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller company owner, this plan will be ideal for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the basics Professional might be the right one for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to go for an upgrade instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited data import integrations Integrations with APIs, teams of users as well as AutoFiles.
They also have a team who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. Application Process At TaxJar
However, they did say that this plan is customized for every user. So the costs will vary in line with what you require to run your business.
Fortunately, you don’t need to risk your money to find out if the platform is for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the software is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of using TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple 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 recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to help you track your products and revenue It can help you meet your deadlines. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar will help you reduce time and keep on top of each deadline and requirement you have to meet. If you’re living in a place with complicated tax regulations, this will surely help you wrap your head around it. Application Process At TaxJar
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ Application Process At TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar can calculate the tax.