Taxes have always been among the most difficult things to handle, whether you’re running a business or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have enough money to engage an accountant doing it on your own can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar Changes Pending In TaxJar Dashboard
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything neat and simple. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. This means that there is no need to collect data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. For this review, we’ll look into both.
If you decide 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 manage them. It is up for you and your staff to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales tax in order to record and process it. However, there might be extra fees if you do not include this feature in the plan you choose.
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 compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you need, like the list of transactions, reports, as well as data.
The most appealing aspect of this option is the fact that it lets you to automatically update every day. They not only let to know the amount you’ve collected however, they can also help you track when your following payment is due.
The dashboard allows you to fully view the total sales tax for your business. It is also possible to export the information in a CSV file, if you want to use it in your accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds better. You’ll know exactly how much budget you have for other operational costs.
What’s more is that TaxJar provides training and tutorials not only for their platform but everything that has to do with sales tax. You can check out their webinars, guides and blog for more details. 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 establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing structures and the features that each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan if you need help in filing and reporting. It also includes the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller company proprietor, then this program will be ideal for you. It may not have all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something different from the basics, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it by adding custom features.
What is the difference from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to choose an upgrade instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited data import integrations API integrations, team members, and AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal the amount that the Premium plan costs you. Changes Pending In TaxJar Dashboard
But they did state that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require to run your business.
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to see if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track 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 valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses numerous platforms. If that’s what you do, then you must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can help you meet the deadlines you set. It is also a great option for accountants as they provide the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Using TaxJar can help you get more done while keeping the track of each deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around it. Changes Pending In TaxJar Dashboard
If handling your taxes is straightforward, 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. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Changes Pending In TaxJar Dashboard
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar can calculate the tax.