Taxes have always been one of the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have the funds to employ an accountant, doing it on your own can be dangerous. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. While this is a long read, you should be able to determine if TaxJar is the tool you require right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar? Contact TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check is your tax-reporting software perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one place. This means that there is no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar it will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. For our review we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to manage these. But, 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 handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating sales taxes in order to record and process it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, such as the list of transactions, reports, and information.
The greatest benefit of this option is the fact that it lets you to update automatically every day. They not only let you keep track of how much you’ve collected however, they can also help you keep track of when the next payments are due.
The dashboard allows users to view in detail the overall sales taxes within your company. It is also possible to export the information as CSV format. CSV file if you need it for your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but for anything that has to do with sales tax. You can check out their guides, webinars, and blog for more info. Apart from that their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing structures and the features that each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It includes sales tax reporting, four autofiles for free each year, and an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small-scale business owner, this plan could be ideal for you. It may not have all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
How different is it from the basic plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge business, you might need to choose premium plans instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations API integrations, team members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. Contact TaxJar
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ according to what you require for your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of using TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has 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
- Allows you to track multiple sales channels
- AutoFile limit is 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 check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to assist you in keeping track of your products and revenue It can help you meet the deadlines you set. It is also a great opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar can allow you to get more done while keeping track of every deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this can certainly help you to get your mind around it. Contact TaxJar
However, if managing taxes is easy, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure simple to follow, you might be better in doing it all by yourself.
FAQ Contact TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link 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 transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar can calculate your tax.