Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. If you don’t have the budget to engage an accountant doing it on your own could be dangerous. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
What can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. While this is an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? Companies Like TaxJar
In 2013, TaxJar was established. 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. Furthermore, you can utilize it in all of the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure is your tax-reporting software perfectly integrates along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to show your critical metrics in one spot. This means that there is no need to gather information from multiple sources and sort it into a single 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 platforms they can integrate with:
Filing
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. In this review, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on how to handle them. However, it will be up to you and your team members to complete everything within the timeframe. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, like a list of your transactions, reports, as well as 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 track when your following payments are due.
Their dashboard can also allow you to see the total sales tax in your business. Additionally, you can export the information as the form of a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to search for your documents when you need them in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just on their platform, but for anything related to sales tax. You can check out their guides, webinars, or blog posts for additional details. Apart from that their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help in filing and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller business proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar, but it has the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something a bit more than just the basic features Professional may be the best option for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to opt for an upgrade instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited import integrations of data, API integrationsfor team members, and AutoFiles.
They also have a staff who are devoted to managing your account. But, they don’t divulge the price of the Premium plan. is going to cost. Companies Like TaxJar
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
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 other options, they have a 30-day free trial. This should give you enough time to see whether the software is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then must try TaxJar.
It’s not just a way to help you track your products and revenue It can help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar will help you get more done while keeping track of every deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this can certainly help you to get your head around the subject. Companies Like TaxJar
However, if managing your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure easy to complete, you might be better in doing it all by yourself.
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FAQ Companies Like TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar can calculate your tax.
