Taxes have always been one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. In the event that you do not have enough money to hire an accountant, performing the task on yourself can be risky. If you overlook one thing, you might have to do it all over again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
We can always make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving device and how it can assist you. Although this is quite an extensive read it is possible to gauge whether TaxJar is what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar Developer TaxJar Returns
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, 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 simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting platform is compatible with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your key data in one location. This means that there is no need to collect data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. For this review, we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect your sales platforms. When the time is right for the filing of income tax returns TaxJar will train you on how to manage the tax returns. It is up for you and your team to complete the process in time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything will be automated from calculating sales tax in order to record and process them. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff will have access to everything you require, including the list of transactions, reports, and information.
The best part about the feature you’ve chosen is it allows you to update automatically every day. Not only can they help you know how much you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows users to view in detail the sales tax totals for your business. You can also export the data as the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to search for your documents when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides and blog for more information. Additionally the sales tax calculator is helpful if you’re planning on do everything on your own.
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 the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale company owner, this plan should be perfect for you. It may not have all the features offered by TaxJar, but it has the essentials that you need.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
How different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for an upgrade instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited import integrations of data as well as API integrationsfor team users and AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose the amount that the Premium plan costs you. Developer TaxJar Returns
But they did state that this plan is customized for each user. Therefore, the cost will differ depending on what you need to run your business.
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to see whether the service 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 to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can 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 be able to access the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it assist you in keeping track of your revenue and products, but it can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they have tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this will surely help you wrap your mind around it. Developer TaxJar Returns
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
FAQ Developer TaxJar Returns
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar will calculate the tax.