Taxes have always been among the most difficult things to handle regardless of whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to hire an accountant, doing it on your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
So what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? Can TaxJar Separate Out Sales Channel Ship Addresses
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting system seamlessly works well with your sales channel. If you have multiple sales channels, you must keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar lets you display your critical data in one location. That way, there’s no need to gather data from different channels and then organize it on a single platform. All you need to do is connect TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. For our review we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income TaxJar will train you on how to manage these. However, it will be up to you and your team to complete everything within the timeframe. TaxJar will only provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting problems. 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 staff will have access to all the information you require, including a list of your transactions, reports, and the data.
The most appealing aspect of this feature is that it allows you to update automatically every day. Not only can they help you keep track of how much you’ve collected however, they can also help you track when your following payments are due.
Their dashboard also allows you to fully view the overall sales taxes in your business. Additionally, you can export the information in a CSV file in case you require it for your accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to scramble for your documents when you need them in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials not only for their platform , but also all things that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional info. Apart from that, their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small company manager, the plan will be perfect for you. It may not have all the features offered by TaxJar, but it has all the basics you require.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get different from the standard features Professional might be the right one for you. It starts at $99, but you can increase it if you add custom features.
How different is it from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to opt for premium plans instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
They also have a staff that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. Can TaxJar Separate Out Sales Channel Ship Addresses
But they did state that this plan is customized to each user. Therefore, the cost will differ in line with what you require for your business.
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of using TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- 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 review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then ought to try this.
Not only will it assist you in keeping track of your products and revenue, but it can also help you meet your deadlines. This is also an excellent opportunity for accountants since they have the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this can certainly help you to get your head around it. Can TaxJar Separate Out Sales Channel Ship Addresses
But if handling your taxes is simple If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire procedure easy to complete then you’re better to do it on your own.
FAQ Can TaxJar Separate Out Sales Channel Ship Addresses
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar can calculate the tax.