Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks 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 dangerous. 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 since it’s required and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving device and how it can benefit you. Even though this is lengthy but you’ll be able to assess whether TaxJar is the tool you require today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What is TaxJar Can We Export Individual Transactions From TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax platform perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. That way, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is connect TaxJar then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes by hand or using TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on how to handle these. However, it will be up to you and your staff to complete everything on time. TaxJar is there to help you understand what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you require, including the list of transactions, reports, as well as information.
The best part about this option is the fact that it lets 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 keep track of when the next payments are due.
Their dashboard can also allow you to see the overall sales taxes in your business. It is also possible to export your data in a CSV file if you need it in your financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operational expenses.
The best part is that TaxJar offers training and tutorials, not just on their platform, but for anything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more information. Apart from that their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It also includes sales tax reporting, four autofiles for free each year, and a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale business proprietor, then this program could be perfect for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking for that is more than the basics and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up if you add custom features.
How different is it from the starter plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do 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 has all of the features that you require to help with your taxes. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. Can We Export Individual Transactions From TaxJar
But they did state that this plan is customized to each user. So the costs will vary according to what you require to run your business.
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to determine whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator.
- 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access 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 can be a great platform businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it aid in tracking your revenue and products, but it can help you meet your deadlines. It is also a great opportunity for accountants since they provide a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can allow you to reduce time and keep 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 surely help you wrap your head around it. Can We Export Individual Transactions From TaxJar
But if handling your taxes is simple, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Can We Export Individual Transactions From TaxJar
Which areas does TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar will calculate the tax.