Taxes are always one of the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford the funds to engage an accountant doing it on your own can be dangerous. If you miss one detail, you might need to repeat the process!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
We can make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can assist you. While this is a long read but you’ll be able to determine if TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar Chat With TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, 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 organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to make sure is that your accounting tax software perfectly integrates with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important data in one location. This means that there is no requirement to collect data in multiple channels and sort it into 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 to assist with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. In this review, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to manage them. It is up to you and your team to complete the process in time. TaxJar is there to guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything will be automated from calculating sales taxes to recording and processing them. There could be extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team can access everything you require, including the list of transactions, reports, and the data.
The most appealing aspect of this feature is that it lets you to update automatically every day. Not only can they help you know how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the overall sales taxes within your company. Additionally, you can export the information in CSV format. CSV file in case you require it in your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. That means you won’t have to scramble for your documents when you’re in the event of a need. Even if you already have your accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operational expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also all things related to sales tax. Check out their webinars, guides, or blog posts for additional details. Additionally, their sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the best plan if you need help in filing and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business manager, the plan will be perfect for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get that is more than the basic features Professional might be the right one for you. The price starts at $99 however, it could go up by adding custom features.
How different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to opt for premium plans instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of users, and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge how much the Premium plan is going to cost. Chat With TaxJar
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your company.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine if the platform is a good fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you should try this.
It’s not just a way to assist you in keeping track of your products and revenue however, it will also help you meet the deadlines you set. This is also an excellent option for accountants as they have the Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar will help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you live in a region with a lot of tax regulations, this will surely help you wrap your head around it. Chat With TaxJar
However, if managing your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure easy to complete, you might be better to do it on your own.
FAQ Chat With TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in USdollars. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar can calculate the tax.