Taxes have always been one of the most difficult things to handle regardless of whether you’re running a business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have enough money to engage an accountant doing it on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving tool and explain how it can benefit you. Although this is quite a long read it is possible to gauge whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar? Digital Good TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to ensure is your tax-reporting software is compatible along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar lets you display your key metrics in one spot. So, there’s no need to gather data from different channels and organize it into a single platform. All you have to do is connect TaxJar then the system will do the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all of the sales channels you use. When the time is right for the filing of income tax returns, the team will instruct you on managing them. It is up for you and your team members to complete everything on time. TaxJar is there to guide you on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated from calculating sales tax in order to record and process them. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, like an inventory of your transactions, reports, and data.
The most appealing aspect of this option is the fact that it allows you to update your account automatically each day. They not only let you keep track of how much you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to fully view the overall sales taxes for your business. Additionally, you can export the information in CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to search for your documents when you need them in the event of a need. Even when you already have your accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also everything that has to do with sales tax. Check out their guides, webinars, and blog for more details. Additionally the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small business manager, the plan will be perfect for you. It may not have all the features of TaxJar however, it does include all the basics you require.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for something that is more than the basic features and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it by adding custom features.
So how different is it from the original plan?
In addition to having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to go for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal the price of the Premium plan. costs you. Digital Good TaxJar
However, they did mention that the plan is custom-made for every user. The cost of the plan will be different in line with what you require for your business.
Free Trial
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 various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is the right choice for you.
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Pros and Pros and
We’ve covered everything you must be aware of TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If that’s what you do, then you ought to try this.
It’s not just a way to assist you in keeping track of your products and revenue, but it can help you meet your deadlines. It’s also an excellent option for accountants as they provide the Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Utilizing TaxJar will help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this can certainly help you to get your head around the subject. Digital Good TaxJar
If handling taxes is easy, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure simple to follow then you’re better in doing it all by yourself.
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FAQ Digital Good TaxJar
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to US$ before TaxJar can calculate the tax.
