Taxes have always been among the hardest things to do, whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford enough money to employ an accountant, making it your own can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
We can always simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving device and how it can help you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is what you need right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar? Az TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it in all of 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 is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is neat and simple. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting software is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. 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 place. This means that there is no requirement to collect information from multiple sources and then organize it on a single platform. All you need to do is to integrate TaxJar it will do all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers submit their sales tax manually or through TaxJar’s 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 those sales tools. Once the time comes for filing income tax returns TaxJar will train you on how to manage them. However, it will be up to you and your staff to complete the process on time. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you’d 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 sales taxes to recording and processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team will have access to everything you need, like an inventory of your transactions, reports, and information.
The best part about this feature is that it allows you to update automatically every day. Not only can they help you know how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows you to fully view the overall sales taxes for your business. It is also possible to export your data as the form of a CSV file, if you want to use it for your financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be 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 know exactly how much budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything related to sales tax. Check out their webinars, guides, as well as their blog to find more info. Apart from that their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you to help you with filing requirements and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small business manager, the plan could be perfect for you. It may not have all the features of TaxJar but it comes with the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking to get a bit more than just the basics and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference 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, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to choose an upgrade instead. It comes with all the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data Integrations with APIs, teams of members and AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose how much the Premium plan is going to cost. Az TaxJar
However, they did say that this plan is customized for every user. Therefore, the cost will differ in line with what you require to run your business.
Fortunately, you don’t need to bet your life on it 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 determine whether the software is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To sum it all up, here are the pros and cons of using TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies 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 assist you in keeping track of your products and revenue, but it can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer the Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax laws, this can certainly help you to get your mind around it. Az TaxJar
But if handling taxes is easy If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Az TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in US$. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar can calculate the tax.