Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have the funds to hire an accountant, performing the task on your own could be dangerous. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. While this is lengthy but you’ll be able to assess whether TaxJar is the tool you require 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.
For those who like to read, we’ll dive right into.
What is TaxJar Create Iuser Access TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting platform is compatible with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. 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 need to gather data in multiple channels and organize it into one platform. All you need to do is connect TaxJar, and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. For our review we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns TaxJar will train you on how to manage the tax returns. It is up for you and your staff to complete the process in time. TaxJar is there to provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your team can access everything you need, such as a list of your transactions, reports and information.
The best part about the feature you’ve chosen is it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve accumulated, but they also help you keep track of when the next payments are due.
The dashboard allows users to view in detail the total sales tax in your business. Additionally, you can export the data as CSV format. CSV file if you need it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. That means you won’t have to hunt for your paperwork when you’re in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have available for other operational costs.
The best part is that TaxJar offers training and tutorials, not just for their platform but all things that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more information. Apart from that their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small company owner, this plan could be ideal for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
You can also contact their support team with their email support chart. You’ll also be able to use their integration features.
If you’re looking to get different from the basics, then the Professional plan might be the right one for you. It starts at $99, but it can go higher by adding custom features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for the Premium plan instead. It includes all of the features you need to help with your taxes. In addition, they offer unlimited import integrations of data as well as API integrations, team users and AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. Create Iuser Access TaxJar
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ depending on what you need 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 determine if the platform is an excellent fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a break. To sum it all up, here are the advantages and disadvantages of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated 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 have access to the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it help you track your revenue and products however, it will help you meet the deadlines you set. It is also a great opportunity for accountants since they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Using TaxJar will help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this will surely help you wrap your head around the subject. Create Iuser Access TaxJar
If handling your taxes is simple, then TaxJar may be an unnecessary investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure easy to complete, you might be better to do it by yourself.
FAQ Create Iuser Access TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it to US$ before TaxJar will calculate the tax.