Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to engage an accountant performing the task on yourself can be risky. If you miss one detail it could mean you have to do it all over 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?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can assist you. Even though this is a long read it is possible to assess whether TaxJar is what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? B And J Tax
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and finish within only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax system seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. So, there’s no need to gather data from different channels and then organize it on a single platform. All you have to do is connect TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. In this review, we’ll look 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 filing tax returns for income TaxJar will train you on how to handle them. However, it will be up for you and your staff to finish the tax returns in time. TaxJar is there to guide you on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating sales taxes to recording and processing them. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. The orders you place through your online channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to everything you need, such as a list of your transactions, reports, and the data.
The most appealing aspect of this feature is that it lets you to update automatically every day. Not only will they let you keep track of how much you’ve collected, but they also help you track when your following payment is due.
The dashboard allows you to see the total sales tax in your business. Additionally, you can export the information as the form of a CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform but all things connected to sales tax. You can look through their guides, webinars, or blog posts for additional details. Apart from that their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan to help you with filing requirements or reporting. It includes sales tax reporting, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small business manager, the plan could be ideal for you. It might not include all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for that is more than the basics, then the Professional plan could be the one for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also have their support via phone access to APIs, as well as advanced CSV import. You can also have 12 free AutoFiles 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 aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrationsfor team members, and AutoFiles.
They also have a team who are devoted to managing your account. They don’t reveal how much the Premium plan costs you. B And J Tax
However, they did say that the plan is custom-made for each user. So the costs will vary according to what you require for your business.
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to see whether the software is a good fit for you.
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 we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- 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
- Some countries won’t be able to access the API feature.
- Only valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that’s what you do, then you ought to try this.
Not only can it aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. It’s also an excellent option for accountants as they provide the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar can help you get more done while keeping track of every deadline and requirement you have to meet. If you live in an area with complex tax laws, this can definitely help you get your head around the subject. B And J Tax
If handling taxes is easy, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure easy to complete, you might be better in doing it all on your own.
FAQ B And J Tax
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USdollars before TaxJar can calculate your tax.