Taxes have always been one of the hardest things to do regardless of whether you run a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have enough money to engage an accountant performing the task on yourself can be risky. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Although this is quite lengthy, you should be able to determine if TaxJar is the tool you require right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar? Delete All Transactions Friom TaxJar
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and finish within just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to maintain everything in line. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key metrics in one place. This means that there is no need to collect data in multiple channels and then organize it on one platform. All you need to do is integrate TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. For our review we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to manage the tax returns. It is up to you and your staff to complete the process in time. TaxJar will only help you understand what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating sales tax through recording, and then processing them. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your team will have access to all the information you require, including a list of your transactions, reports, as well as information.
The greatest benefit of the feature you’ve chosen is it lets you to update your account automatically each 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 determine when your next payment is due.
Their dashboard can also allow you to see the overall sales taxes in your business. You can also export your data as a CSV file, if you want to use it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to search for your documents when you need them in the event of a need. Even when you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll know exactly how much budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but all things connected to sales tax. Check out their webinars, guides as well as their blog to find more info. In addition, their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish 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 tiers and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the best plan if you need help with filing requirements or reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a smaller business manager, the plan could be ideal for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for different from the basic features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it by adding custom features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to choose premium plans instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data, Integrations with APIs, teams of users, and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the price of the Premium plan. costs you. Delete All Transactions Friom TaxJar
But they did state that the plan is custom-made to each user. So the costs will vary according to what you require for your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is right for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to gauge whether the software is the right choice for you.
Pros and Cons
Now that we’ve covered all 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 the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features help save 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
- Some countries won’t be able to access 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 down, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to aid in tracking your revenue and products however, it will also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can help you save more time while keeping the track of each deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your head around it. Delete All Transactions Friom TaxJar
But if handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire process easy to do, you might be better to do it on your own.
FAQ Delete All Transactions Friom TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account to 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. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it into US$ before TaxJar determines your tax.