Taxes have always been among the hardest things to do, whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have the budget to employ an accountant, making it your own can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory, we have no choice.
What is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can assist you. While this is an extensive read, you should be able to assess whether TaxJar is the tool you require right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? Does TaxJar Support International Stores
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax software perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your most important data in one location. So, there’s no need to gather data from different channels and organize it into a single platform. All you have to do is to integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns TaxJar will train you on managing the tax returns. However, it will be up for you and your staff to complete the process on time. TaxJar is there to help you understand what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. Through this feature, everything will be automated from calculating sales tax to recording and processing them. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your team can access everything you require, including a list of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you keep track of how much you’ve collected however, they can also help you determine when your next payment is due.
The dashboard allows you to fully view the total sales tax for your business. Additionally, you can export the information to CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have available for other operational expenses.
The best part is that TaxJar offers training and tutorials not only on their platform, but all things connected to sales tax. Check out their webinars, guides, and blog for more info. In addition the sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller company proprietor, then this program should be ideal 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 email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for something a bit more than just the standard features, then the Professional plan may be the best option for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for an upgrade instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge the price of the Premium plan. will cost you. Does TaxJar Support International Stores
But they did state that this plan is customized for each user. So the costs will vary in line with what you require for your business.
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to gauge 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 sum it all up, here are the pros and cons of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor multiple 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 to USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then ought to try this.
Not only can it assist you in keeping track of your products and revenue It can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they provide tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you live in an area with complex tax laws, this will certainly help you to get your head around it. Does TaxJar Support International Stores
But if handling your taxes is simple, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole process easy to do then you’re better off doing it on your own.
FAQ Does TaxJar Support International Stores
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar will calculate your tax.