Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have the funds to engage an accountant doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
What is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. Although this is quite lengthy it is possible to determine if TaxJar is what you need right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? Can You Download TaxJar Sales Tax Report
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you must maintain everything in line. The final thing you would like 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 information from multiple sources and sort it into one platform. All you have to do is connect TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to make sales tax filings by hand or using TaxJar’s AutoFile feature. In our review we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for the filing of income tax returns The team will guide you on how to handle these. It is up to you and your staff to complete the process on time. TaxJar will only provide guidance on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes to recording and processing them. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. From there, you and your team can access everything you require, including a list of your transactions, reports and the data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only will they let you know how much you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the sales tax totals in your business. Additionally, you can export the information in a CSV file if you need it in your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but everything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more info. In addition, their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small business owner, this plan could be ideal for you. It may not have all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for something different from the basics, then the Professional plan may be the best option for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to opt for premium plans instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team users, and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan will cost you. Can You Download TaxJar Sales Tax Report
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your business.
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of using TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then ought to try this.
Not only can it help you track the sales and profits of your business, but it can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they offer a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to meet. If you’re in a region with a lot of tax laws, this can certainly help you to get your mind around it. Can You Download TaxJar Sales Tax Report
However, if managing your taxes is 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. Moreover, if you find the whole procedure easy to complete then you’re better off doing it on your own.
FAQ Can You Download TaxJar Sales Tax Report
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions are in US$. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar can calculate the tax.