Taxes have always been among the hardest things to do, whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. If you don’t have the budget to hire an accountant, doing it on yourself can be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
So what can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. While this is a long read it is possible to assess whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar? Does TaxJar Integrate With Quickbooks
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system seamlessly works well along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical data in one location. So, there’s no need to gather data from different channels and then organize it on a single platform. All you need to do is connect TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. In our review we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When the time is right for filing income tax returns The team will guide you on how to handle these. But, it is up for you and your staff to complete everything on time. TaxJar is there to help you understand what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. From there you and your team will have access to everything you need, like an inventory of your transactions, reports, as well as information.
The greatest benefit of the feature you’ve chosen is they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve accumulated, but they also help you keep track of when the next payment is due.
The dashboard allows you to fully view the sales tax totals for your business. Additionally, you can export the information in the form of a CSV file, if you want to use it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accountant, this function can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds better. You’ll be aware of the 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 also everything connected to sales tax. Check out their webinars, guides, and blog for more details. Apart from that, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, four autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small-scale company owner, this plan will be ideal for you. It might not include all the features of TaxJar however, it does include the essentials that you need.
You can also contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for a bit more than just the standard features, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to go for premium plans instead. It comes with all the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports Integrations with APIs, teams of users, and AutoFiles.
There is also a team who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. Does TaxJar Integrate With Quickbooks
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require to run 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 various options, they provide 30 days of free trial. It should give you enough time to see whether the service is the right choice for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of the use of TaxJar to run your business.
- Has a 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 easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are 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 clearly laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of your products and revenue, but it can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re living in an area with complex tax regulations, this will surely help you wrap your mind around it. Does TaxJar Integrate With Quickbooks
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure easy to complete, you might be better in doing it all on your own.
FAQ Does TaxJar Integrate With Quickbooks
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar determines your tax.