Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford enough money to engage an accountant performing the task on your own could be risky. If you make a mistake it could mean you have to redo things again!
Most people want to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. While this is an extensive read it is possible to gauge whether TaxJar is what you need in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What exactly is TaxJar? Are Taxes Illegal
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it in all of your channels of sales to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting software is compatible along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. This means that there is no need to gather data from different channels and then organize it on one platform. All you need to do is to integrate TaxJar then the system will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. In the purpose of this article, we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to manage these. It is up to you and your team members to finish the tax returns on time. TaxJar is only there to provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing it. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you need, such as the list of transactions, reports and the data.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned however, they can also help you track when your following payment is due.
Their dashboard also allows you to fully view the total sales tax for your business. Additionally, you can export your data in CSV format. CSV file if you need it in your process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only on their platform, but all things related to sales tax. You can look through their guides, webinars, or blog posts for additional info. Apart from that, their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and the features that each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small company manager, the plan could be perfect for you. It might not include all the features offered by TaxJar but it comes with the basic features you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for something a bit more than just the basics and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to choose an upgrade instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrations, team members as well as AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. Are Taxes Illegal
However, they did mention that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your business.
Fortunately, you don’t need to risk your money to determine if this service is for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to see if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it help you track the sales and profits of your business, but it can help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar can help you get more done while keeping the track of each deadline or requirement you need to meet. If you’re living in an area with complex tax laws, this will certainly help you to get your head around the subject. Are Taxes Illegal
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure easy to complete, you might be better in doing it all on your own.
FAQ Are Taxes Illegal
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar determines your tax.