Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to employ an accountant, performing the task on your own can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
What is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can help you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? Does TaxJar Pay Taxes For You
In 2013, TaxJar was established. TaxJar is a platform that helps automate 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 your sales channels to make sure you’re in compliance with sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is organized and straightforward. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one place. That way, there’s no need to gather information from multiple sources and sort it into a single platform. All you need to do is to integrate TaxJar it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. In our review we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to manage these. However, it will be up for you and your team members to complete the process within the timeframe. TaxJar is only there to help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating sales taxes in order to record and process it. But, it is possible to incur additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, like an inventory of your transactions, reports and information.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the sales tax totals within your company. It is also possible to export the information as CSV format. CSV file in case you require it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to search for your documents when you’re in the event of a need. Even when you already have your accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar provides training and tutorials not only for their platform but all things connected to sales tax. You can look through their webinars, guides, or blog posts for additional information. In addition the sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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 your business. For this reason, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help in filing and reporting. It comes with the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small business owner, this plan will be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking to get a bit more than just the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to go for premium plans instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team members as well as AutoFiles.
They also have a team dedicated in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. Does TaxJar Pay Taxes For You
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require for your business.
It’s a good thing that you don’t have to risk your money to see if this platform is right for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to see whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you must know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to 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 have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If that sounds like what you do, then you ought to try this.
Not only can it aid in tracking the sales and profits of your business however, it will help you meet your deadlines. It is also a great opportunity for accountants since they offer tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar will help you get more done while keeping track of every deadline and requirement you have to fulfill. If you live in an area with complex tax laws, this can definitely help you get your head around it. Does TaxJar Pay Taxes For You
If handling taxes is easy, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. If you find the entire process easy to do, you might be better off doing it on your own.
FAQ Does TaxJar Pay Taxes For You
Which areas does TaxJar provide API support?
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 sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n US$. If you’re using another currency, you will need to convert it to USdollars before TaxJar will calculate your tax.