Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when you’re packed with things to do. If you don’t have the budget to employ an accountant, doing it on your own could be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Most people want to skipping this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can assist you. Even though this is an extensive read but you’ll be able to assess whether TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? Bigcommerce And TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to make their business more neat and simple. Let’s explore their features and services.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key data in one location. This means that there is no need to collect data from different channels and sort it into a single platform. All you have to do is connect TaxJar it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. For this review, we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns TaxJar will train you on managing the tax returns. However, it will be up to you and your staff to complete the process in time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process them. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your team can access everything you need, such as an inventory of your transactions, reports, and data.
The best part about this option is the fact that it allows you to automatically update every day. They not only let you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payments are due.
The dashboard allows you to fully view the total sales tax for your business. It is also possible to export the information in the form of a CSV file, if you want to use it to aid in 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 sales avenues you use. It means you don’t need to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also everything related to sales tax. You can check out their webinars, guides, as well as their blog to find more information. Additionally the sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small business owner, this plan will be ideal for you. It may not have all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get a bit more than just the basics, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to go for the Premium plan instead. It has all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited import integrations of data API integrationsfor team members as well as AutoFiles.
They also have a staff who are devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. Bigcommerce And TaxJar
However, they did mention that this plan is customized for every user. So the costs will vary in line with what you require for your company.
Fortunately, you don’t need to bet your life on it to determine if this service is the right one for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor 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 valid for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it aid in tracking the sales and profits of your business, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they provide tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
The use of TaxJar will help you reduce time and keep on top of each deadline and obligation you have to meet. If you live in a region with a lot of tax regulations, this will certainly help you to get your head around it. Bigcommerce And TaxJar
But if handling taxes is easy If it isn’t, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure easy to complete, you might be better to do it on your own.
FAQ Bigcommerce And TaxJar
Which areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into 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 doesn’t convert currencies. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar determines the tax.