Taxes have always been one of the hardest things to do regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the budget to hire an accountant, making it your own can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is what you need right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? Cost Of TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could take 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, and even medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. That way, there’s no requirement to collect information from multiple sources and then organize it on a single platform. All you need to do is to integrate TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on how to handle the tax returns. But, it is up to you and your team members to finish the tax returns on time. TaxJar will only guide you on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales tax to recording and processing it. But, it is possible to incur additional charges if they are not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your staff will have access to all the information you require, including a list of your transactions, reports, and information.
The greatest benefit of this feature is that they allow you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows you to fully view the overall sales taxes within your company. You can also export the information as a CSV file if you need it in your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything that has to do with sales tax. You can look through their guides, webinars, as well as their blog to find more info. Additionally their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most effective plan to help you in filing and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small company manager, the plan should be ideal for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large business, you might need to opt for premium plans instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. Cost Of TaxJar
However, they did say that this plan is tailor-fit to each user. So the costs will vary in line with what you require for your business.
Fortunately, you don’t need to risk your money to determine if this service is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that 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 the sales and profits of your business It can also help you meet your deadlines. It’s also an excellent option for accountants as they offer the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Utilizing TaxJar can help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re in an area with complex tax laws, this will surely help you wrap your head around it. Cost Of TaxJar
However, if managing your taxes is straightforward, 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 everything. In addition, if you find the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
FAQ Cost Of TaxJar
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar determines your tax.