Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to hire an accountant, performing the task on your own can be risky. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can help you. Even though this is lengthy it is possible to assess whether TaxJar is the tool you require today.
Are you looking to watch videos instead? Take a look at 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, let’s dive right in.
What exactly is TaxJar? D Tax Revere
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with sales tax requirements. It streamlines processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check you have a tax accounting software is compatible with your sales channel. 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 overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. This means that there is no need to gather data from different channels and organize it into one platform. All you have to do is integrate TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. For our review we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on how to handle them. However, it will be up to you and your team to complete the process on time. TaxJar is only there to provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to all the information you need, like an inventory of your transactions, reports, as well as data.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. Not only can they help you keep track of how much you’ve earned however, they can also help you track when your following payments are due.
Their dashboard also allows you to fully view the sales tax totals within your company. You can also export your data in the form of a CSV file if you need it for your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform but for anything related to sales tax. Check out their webinars, guides, and blog for more details. In addition their sales tax calculator should be beneficial when you’re planning to 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’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the best plan to help you in filing and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company owner, this plan will be ideal for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get that is more than the basics, then the Professional plan could be the one for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive company, you may need to go for premium plans instead. It includes all of the features you need to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal how much the Premium plan is going to cost. D Tax Revere
But they did state that this plan is tailor-fit for every user. Therefore, the cost will differ depending on what you need to run 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 give you enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a breather. To sum it all up Here are 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
- Provides on the internet for 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
- 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
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it help you track your products and revenue however, it will also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax laws, this can definitely help you get your head around the subject. D Tax Revere
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ D Tax Revere
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USdollars before TaxJar will calculate your tax.