Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to engage an accountant doing it on your own can be dangerous. If you make a mistake it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory, we have no choice.
What can we do about it?
We can make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can assist you. While this is a long read but you’ll be able to assess whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What is TaxJar? Can TaxJar Work With Quickbooks Intuit
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your sales channels to ensure that you are in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure you have a tax accounting platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. This means that there is no need to collect information from multiple sources and organize it into one platform. All you need to do is connect TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. For this review, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns The team will guide you on how to handle them. But, it is up for you and your team members to finish the tax returns within the timeframe. TaxJar is there to guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team can access everything you need, like an inventory of your transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. Not only can they help you keep track of how much you’ve collected and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to fully view the total sales tax for your business. You can also export the data as a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know better how much budget you have available for other operational costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but all things connected to sales tax. You can look through their webinars, guides and blog for more information. Apart from that their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing levels and what each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan to help you with filing requirements or reporting. It also includes the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company manager, the plan could be perfect for you. It might not include all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the basics and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to choose the Premium plan instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data API integrationsfor team users, and AutoFiles.
There is also a team dedicated for managing the account. However, they don’t disclose the amount that the Premium plan is going to cost. Can TaxJar Work With Quickbooks Intuit
But they did state that the plan is custom-made for every user. Therefore, the cost will differ according to what you require to run your business.
Luckily, you don’t have to risk your money to find out if the platform is right for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to determine whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of making use of TaxJar to run your business.
- There is a 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 simple to navigate
- Offers a 30-day free trial
- It can be integrated 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 be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If that’s what you do, then you ought to try this.
It’s not just a way to aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you reduce time and keep the track of each deadline and obligation you have to meet. If you live in an area with complex tax laws, this will certainly help you to get your mind around it. Can TaxJar Work With Quickbooks Intuit
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure simple to follow then you’re better off doing it by yourself.
FAQ Can TaxJar Work With Quickbooks Intuit
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in US$. If you’re using another currency, you’ll have to convert it to US$ prior to when TaxJar can calculate your tax.