Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when you’re packed with things to do. In the event that you do not have the budget to engage an accountant performing the task on your own can be risky. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
What can we do about it?
It is always possible to make life easier with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can assist you. Even though this is an extensive read but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What is TaxJar Apps Like TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure you have a tax accounting software is compatible along with sales funnels. If you have multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. So, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar, and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. In our review we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns TaxJar will train you on how to handle them. But, it is up to you and your team to finish the tax returns in time. TaxJar is only there to help you understand what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales in order to record and process it. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there, you and your team can access everything you require, including the list of transactions, reports, and data.
The greatest benefit of this feature is that it lets you to automatically update every day. Not only can they help you know how much you’ve earned however, they can also help you track when your following payment is due.
The dashboard allows users to view in detail the overall sales taxes within your company. You can also export the information in a CSV file in case you require it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even when you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll be aware of the budget you have to cover other operating expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform , but also all things connected to sales tax. You can look through their webinars, guides or blog posts for additional information. In addition the sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They say it’s the most suitable plan for you to help you with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small-scale business manager, the plan should be perfect for you. It may not have all the features offered by TaxJar, but it has the essentials that you need.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for something different from the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone access to APIs, as well as sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive enterprise, you may want to go for premium plans instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of users, and AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal how much the Premium plan is going to cost. Apps Like TaxJar
However, they did mention 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 business.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to see whether the service is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you must be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save 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 can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- 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 review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you should try this.
Not only can it aid in tracking the sales and profits of your business It can assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to meet. If you live in a place with complicated tax laws, this will certainly help you to get your mind around it. Apps Like TaxJar
If handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire process easy to do, you might be better off doing it on your own.
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FAQ Apps Like TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar will calculate the tax.
