Taxes have always been one of the most difficult things to handle, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford the budget to engage an accountant making it your own can be risky. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to skip 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 simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and how it can help you. While this is lengthy, you should be able to determine if TaxJar is exactly what you need in the present.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar? Ct TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to make their business more neat and simple. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll want to check is that your accounting tax platform perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one spot. So, there’s no need to collect data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar, it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax manually or through their AutoFile feature. In this review, we’ll dig into both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns TaxJar will train you on managing the tax returns. However, it will be up to you and your staff to complete everything within the timeframe. TaxJar is there to guide you on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales tax in order to record and process it. But, it is possible to incur additional charges if they are not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your team can access everything you require, including the list of transactions, reports, and information.
The best part about this feature is that it lets you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to see the sales tax totals in your business. You can also export your data as the form of a CSV file, if you want to use it for your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to scramble for your documents when you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but all things connected to sales tax. You can check out their webinars, guides, and blog for more details. Apart from that, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small company owner, this plan will be ideal for you. It may not have all of TaxJar’s features however, it does include all the basics you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for different from the basics Professional might be the right one for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge business, you might need to choose the Premium plan instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. Ct TaxJar
But they did state that the plan is custom-made for each user. So the costs will vary according to what you require for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to determine whether the service is the right choice for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- It allows you to monitor 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.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
Not only will it assist you in keeping track of your products and revenue however, it will help you meet the deadlines you set. It’s also an excellent platform for an accountant since they have a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this will certainly help you to get your head around the subject. Ct TaxJar
If handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure easy to complete, you might be better to do it on your own.
FAQ Ct TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in USdollars. If you’re using a different currency, you will need to convert it into US$ before TaxJar determines the tax.