Taxes have always been among the most difficult things to handle regardless of whether you’re running a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have enough money to employ an accountant, performing the task on yourself can be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
We can always make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. Even though this is a long read but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? Can TaxJar File My Sales Taxes
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and finish within only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting software perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. So, there’s no need to collect data in multiple channels and organize it into one platform. All you have to do is connect TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. For our review we’ll dig into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing tax returns for income The team will guide you on how to manage these. However, it will be up for you and your team members to complete the process on time. TaxJar is there to provide guidance on what you should do , but not to 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 all forms by hand. Through this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. However, there might be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard via this platform. From there you and your team will have access to all the information you need, such as the list of transactions, reports, as well as data.
The best part about this option is the fact that they allow you to update automatically every day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the total sales tax within your company. You can also export the data in CSV format. 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 the track of all your sales channels. That means you won’t have to scramble for your documents when you need them in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but all things that has to do with sales tax. You can look through their webinars, guides as well as their blog to find more info. Additionally their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They claim that it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a smaller company owner, this plan will be ideal for you. It might not include all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for that is more than the basic features Professional might be the right one for you. It starts at $99, however, it could go up if you add custom features.
How different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to opt for the Premium plan instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data API integrations, team users as well as AutoFiles.
They also have a team dedicated for managing the account. However, they don’t disclose the amount that the Premium plan costs you. Can TaxJar File My Sales Taxes
However, they did mention that this plan is customized for every user. The cost of the plan will be different depending on what you need for your company.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must know about 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 the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it help you track your products and revenue, but it can also help you meet the deadlines you set. It is also a great platform for an accountant since they have a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
The use of TaxJar can help you save more time while keeping track of every deadline and obligation you have to meet. If you’re in an area with complex tax regulations, this will surely help you wrap your mind around it. Can TaxJar File My Sales Taxes
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure simple to follow, you might be better in doing it all on your own.
FAQ Can TaxJar File My Sales Taxes
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar will calculate your tax.