Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to engage an accountant doing it on your own could be risky. If you overlook one thing, you might have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. While this is lengthy, you should be able to determine if TaxJar is the tool you require right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? Bigcommerce TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your sales channels to ensure that you are in 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 used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is that your accounting tax platform seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your critical metrics in one place. So, there’s no need to collect data in multiple channels and then organize it on one platform. All you have to do is to integrate TaxJar, and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For our review we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to filing tax returns for income TaxJar will train you on how to manage them. However, it will be up for you and your team members to finish the tax returns within the timeframe. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything will be automated from calculating sales tax in order to record and process it. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you need, like an inventory of your transactions, reports, as well as the data.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each day. They not only let you know how much you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard also allows you to fully view the total sales tax in your business. Additionally, you can export the data in the form of a CSV file if you need it for your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have available for other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform but everything connected to sales tax. Check out their webinars, guides, and blog for more details. Additionally the sales tax calculator is helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing features, but they can be too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the most effective plan to help you with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program should be perfect for you. It might not include all of TaxJar’s features, but it has all the basics you require.
You can also contact their support team with their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something different from the standard features and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to go for an upgrade instead. It comes with all the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff who are devoted to managing your account. However, they don’t disclose how much the Premium plan will cost you. Bigcommerce TaxJar
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to determine if this service is for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to gauge whether the service is the right choice for you.
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Pros and Cons
Now that we’ve covered all you must know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is simple 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it aid in tracking the sales and profits of your business however, it will help you meet your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this will definitely help you get your head around it. Bigcommerce TaxJar
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ Bigcommerce TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar can calculate the tax.
