Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford the budget to employ an accountant, performing the task on your own can be risky. 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 , as it’s a requirement and mandatory, there’s no other choice.
What is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can help you. While this is lengthy, you should be able to gauge whether TaxJar is the tool you require right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar Does TaxJar Integratewith Quickbooks
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized 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 extensively used by owners of online businesses to make their business more neat and simple. Let’s take a look at their features and services.
Features and services
One of the first things you’ll need to ensure is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your most important metrics in one spot. So, there’s no requirement to collect data from different channels and sort it into a single platform. All you have to do is to integrate TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on managing them. But, it is up to you and your staff to complete everything on time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes to recording and processing them. There could be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you require, including the list of transactions, reports, as well as information.
The best part about the feature you’ve chosen is it allows you to automatically update every 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 payment is due.
Their dashboard can also allow you to see the total sales tax within your company. Additionally, you can export the information as CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this function will 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 better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers 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 info. Additionally, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set 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 take a look at TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small-scale business proprietor, then this program could be ideal for you. It may not have all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for different from the basic features Professional might be the right one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you run a large company, you may need to choose premium plans instead. It has all of the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team members, and AutoFiles.
They also have a team dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. Does TaxJar Integratewith Quickbooks
But they did state that the plan is custom-made for every user. So the costs will vary according to what you require for your company.
It’s a good thing that you don’t have to bet your life on it to see if this platform is right for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to determine whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to 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
- Some countries won’t have access to the API feature.
- Only applicable for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then ought to try this.
Not only can it help you track your revenue and products, but it can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they provide the Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to meet. If you’re living in a region with a lot of tax laws, this can surely help you wrap your head around it. Does TaxJar Integratewith Quickbooks
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Does TaxJar Integratewith Quickbooks
What areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into USdollars before TaxJar can calculate your tax.