Taxes have always been one of the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the funds to engage an accountant making it your own could be risky. If you overlook one thing and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can always make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can assist you. Even though this is an extensive read it is possible to gauge whether TaxJar is what you need in the present.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? B Tax Service
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of your sales channels to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and finish within only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
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 explore their features and services.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to display your most important data in one location. This means that there is no requirement to collect information from multiple sources and organize it into one platform. All you have to do is integrate TaxJar and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar lets customers file their sales taxes manually or through TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income TaxJar will train you on how to handle them. However, it will be up to you and your staff to complete the process in time. TaxJar is there to provide guidance on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating sales tax in order to record and process it. But, it is possible to incur 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 help you with your accounting issues. The orders you place through your online channels can be put together into a single dashboard through this platform. From there, you and your team will have access to all the information you require, including an inventory of your transactions, reports and the data.
The greatest benefit of this option is the fact that it lets you to automatically update every day. They not only let you keep track of how much you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export the data in a CSV file if you need it for your financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to scramble for your documents when you’re in a pinch. Even if you already have your accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials not only for their platform but all things related to sales tax. You can check out their webinars, guides, or blog posts for additional details. Apart from that their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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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’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale company manager, the plan should be perfect for you. It may not offer all of TaxJar’s features but it comes with all the basics you require.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for that is more than the basics Professional could be the one for you. The price starts at $99 but it can go higher when you add additional features.
What is the difference from the starter 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 sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to go for premium plans instead. It includes all of the features you need to make your tax filing easier. In addition, they offer unlimited data import integrations API integrationsfor team users, and AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. B Tax Service
However, they did say that the plan is custom-made for each user. Therefore, the cost will differ according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to see if this platform is for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it assist you in keeping track of your revenue and products, but it can also help you meet the deadlines you set. This is also an excellent option for accountants as they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this can definitely help you get your head around it. B Tax Service
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ B Tax Service
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar can calculate your tax.
