Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have a background in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to engage an accountant making it your own can be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. Although this is quite a long read, you should be able to determine if TaxJar is what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? Collected $77 Report Says I Need To Pay $75 In TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in 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 is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s explore their features and services.
Features and services
One of the first things you’ll need to ensure you have a tax accounting software is compatible along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. So, there’s no requirement to collect data from different channels and then organize it on one platform. All you need to do is to integrate TaxJar and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. In our review we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for the filing of income tax returns The team will guide you on how to handle these. However, it will be up for you and your staff to finish the tax returns in time. TaxJar is there to provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything will be automated from calculating sales taxes in order to record and process them. However, there might be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. From there you and your staff will have access to all the information you need, such as the list of transactions, reports and data.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the overall sales taxes within your company. Additionally, you can export the information as the form of a CSV file if you need it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents when you need them in the event of a need. Even if you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds better. You’ll know exactly how much budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also all things that has to do with sales tax. Check out their webinars, guides as well as their blog to find more info. Additionally the sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing structures and what each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a smaller business manager, the plan could be perfect for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
You can also contact the support team via their email support chart. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basic features, then the Professional plan may be the best option for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge business, you might need to opt for an upgrade instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited data import integrations as well as API integrationsfor team members, and 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. Collected $77 Report Says I Need To Pay $75 In TaxJar
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different in line with what you require to run your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to see if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- 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 be able to access the API feature
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you should try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can also help you meet the deadlines you set. It is also a great platform for an accountant since they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Using TaxJar can allow you to get more done while keeping the track of each deadline and requirement you have to meet. If you’re in a region with a lot of tax regulations, this will surely help you wrap your mind around it. Collected $77 Report Says I Need To Pay $75 In TaxJar
If handling your taxes is simple, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Collected $77 Report Says I Need To Pay $75 In TaxJar
What areas does TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in US$. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar determines the tax.