Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford enough money to hire an accountant, doing it on your own can be risky. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can help you. Even though this is an extensive read it is possible to gauge whether TaxJar is what you need today.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar? Call TaxJar Support
The company was founded in 2013 TaxJar is an application that automatizes 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 in all of the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as 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.
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Features and services
Integration
One of the most important things you’ll need to ensure is your tax-reporting system seamlessly works well along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to 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 organize it into one platform. All you have to do is integrate TaxJar then the system will take care of all 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 are able to integrate with:
Filing
TaxJar lets customers file their sales taxes by hand or using their AutoFile feature. For this review, we’ll dig into both.
If you choose 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 The team will guide you on how to handle them. It is up to you and your team members to complete everything on time. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing it. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you require, including a list of your transactions, reports, as well as the data.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. They not only let to know the amount you’ve collected however, they can also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the total sales tax in your business. It is also possible to export the data as a CSV file if you need it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also all things connected to sales tax. You can check out their webinars, guides, or blog posts for additional details. Additionally 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 are aware of how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It comes with the tax on sales, four 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 small business owner, this plan will be ideal for you. It might not include all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for a bit more than just the basics Professional could be the one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to choose premium plans instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports Integrations with APIs, teams of members as well as AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. Call TaxJar Support
But they did state that the plan is custom-made for every user. So the costs will vary in line with what you require for your company.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to see whether the service is an excellent fit for you.
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Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a break. To sum it all up Here are the pros and cons of using TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you should try this.
It’s not just a way to help you track your products and revenue, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and obligation you have to meet. If you live in an area with complex tax regulations, this will certainly help you to get your head around it. Call TaxJar Support
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole process easy to do, you might be better to do it by yourself.
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FAQ Call TaxJar Support
Which areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate 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 currency values. All of the transactions are in USdollars. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar determines your tax.
