Taxes have always been among the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford enough money to engage an accountant doing it on yourself can be risky. If you overlook one thing, you might need to repeat the process!
Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can benefit you. Although this is quite an extensive read it is possible to determine if TaxJar is the tool you require right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? Does TaxJar Autocalculate Shipping Taxes?
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few only 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 it help you?
TaxJar is used extensively by online business owners to ensure that everything is simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll want to check you have a tax accounting platform perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your key metrics in one place. This means that there is no need to collect information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar, and the platform will do the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. In the purpose of this article, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on managing these. It is up to you and your team members to complete everything in time. TaxJar will only help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. Through this feature, everything will be automated, from calculating sales tax in order to record and process it. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into one dashboard using this platform. From there, you and your team will have access to all the information you need, such as an inventory of your transactions, reports, and information.
The best part about this feature is that it lets you to update automatically every day. They not only let you know how much you’ve earned, but they also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. Additionally, you can export the data as a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. It means you don’t need to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just on their platform, but all things that has to do with sales tax. Check out their webinars, guides, or blog posts for additional details. Apart from that the sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale company proprietor, then this program could be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration features.
If you’re looking for something different from the basics Professional may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large company, you may need to go for an upgrade instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of members, and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. Does TaxJar Autocalculate Shipping Taxes?
But they did state that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require to run your business.
Fortunately, you don’t need to bet your life on it to see if this platform is for you. If you’re still considering different options, they offer a 30-day free trial. It should give you enough time to gauge whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of making use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online 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
- You can track several 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 clearly laid out TaxJar provides a fantastic platform to businesses with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it aid in tracking the sales and profits of your business It can assist you in meeting the deadlines you set. It is also a great option for accountants as they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your head around it. Does TaxJar Autocalculate Shipping Taxes?
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 for sales, TaxJar won’t be needed to track everything. In addition, if you find the whole procedure simple to follow then you’re better off doing it by yourself.
FAQ Does TaxJar Autocalculate Shipping Taxes?
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar determines your tax.