Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the budget to engage an accountant making it yourself can be dangerous. If you miss one detail, you might have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. While this is lengthy, you should be able to gauge whether TaxJar is the tool you require today.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? Connect With TaxJar Stripe
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is neat and simple. Let’s look into their features and services.
Services and features
One of the first things you’ll need to ensure is that your accounting tax platform perfectly integrates along with sales funnels. 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 not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to collect information from multiple sources and organize it into one platform. All you have to do is connect TaxJar then the system will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. In our review we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns, the team will instruct you on managing them. However, it will be up for you and your staff to complete the process on time. TaxJar will only guide you on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating taxes on sales to recording and processing them. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. From there, you and your team can access everything you require, including a list of your transactions, reports, as well as information.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only can they help you keep track of how much you’ve earned, but they also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the total sales tax in your business. It is also possible to export your data as a CSV file in case you require it for your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but all things connected to sales tax. You can look through their webinars, guides, and blog for more details. In addition the sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller company owner, this plan should be perfect for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for something different from the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to choose premium plans instead. It has all of the features you need to make your tax filing easier. Moreover, they allow unlimited import integrations of data API integrationsfor team users as well as AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge the price of the Premium plan. costs you. Connect With TaxJar Stripe
But they did state that the plan is custom-made for each user. So the costs will vary depending on what you need for your business.
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to determine whether the service is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- You can track several 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.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with multiple sales channels and uses many platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this will certainly help you to get your head around the subject. Connect With TaxJar Stripe
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure easy to complete then you’re better to do it by yourself.
FAQ Connect With TaxJar Stripe
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar will calculate the tax.