Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, doing it on yourself can be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory, we have no choice.
So , what can we do ?
We can always make life easier with tools such as TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. While this is a long read but you’ll be able to determine if TaxJar is exactly what you need today.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? Delaware TaxJar
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just 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 ensure that everything is organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure is that your accounting tax system seamlessly works well along with sales funnels. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your most important data in one location. So, there’s no requirement to collect data from different channels and organize it into one platform. All you need to do is connect TaxJar, it 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 are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on managing these. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales 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 I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team can access everything you need, like the list of transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. Not only will they let you keep track of how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard also allows users to view in detail the sales tax totals within your company. It is also possible to export your data as CSV format. CSV file if you need it for your accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to search for your documents when you need them in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know better how much budget you have available for other operating expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can look through their guides, webinars, or blog posts for additional information. Additionally the sales tax calculator is useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they can be too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing levels and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale business proprietor, then this program could be ideal for you. It might not include all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking to get a bit more than just 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 all of the Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to opt for an upgrade instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose how much the Premium plan costs you. Delaware TaxJar
However, they did say that this plan is customized for every user. The cost of the plan will be different in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to see if this platform is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see whether the service is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a breather. To sum it all up Here are the pros and cons of making use of TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you should try this.
Not only can it assist you in keeping track of your revenue and products however, it will assist you in meeting your deadlines. It is also a great platform for an accountant since they provide tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Using TaxJar can help you get more done while keeping track of every deadline and requirement you have to meet. If you’re in a region with a lot of tax laws, this will definitely help you get your mind around it. Delaware TaxJar
If handling 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 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 on your own.
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FAQ Delaware TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it into USdollars prior to when TaxJar determines your tax.
