Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. If you don’t have the funds to hire an accountant, making it your own can be dangerous. If you make a mistake, you might need to repeat the process!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can benefit you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is what you need in the present.
Prefer video streaming instead? Check out 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 dive right in.
What is TaxJar? Does TaxJar Support Stripe Test Mode
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of the sales channels you use to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting system is compatible with your sales channel. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one place. This means that there is no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. For our review we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income, the team will instruct you on how to manage them. But, it is up for you and your team to complete the process on time. TaxJar will only guide you on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing them. But, it is possible to incur extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. 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 need, such as the list of transactions, reports, as well as data.
The best part about the feature you’ve chosen is it lets you to automatically update every day. They not only let to know the amount you’ve earned, but they also help you track when your following payment is due.
The dashboard allows you to see the overall sales taxes within your company. It is also possible to export the data as CSV format. CSV file if you need it to aid in financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training not only for their platform , but also for anything connected to sales tax. Check out their guides, webinars, or blog posts for additional info. Apart from that the sales tax calculator is 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 establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It also includes the tax on sales, four autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale company manager, the plan could be perfect for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for something different from the basics, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to choose premium plans instead. It includes all of the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations as well as API integrations, team members as well as AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. Does TaxJar Support Stripe Test Mode
However, they did mention that this plan is customized to each user. So the costs will vary depending on what you need for your company.
Luckily, you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to see if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. In order to sum up the whole thing, 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 to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you should try this.
Not only can it assist you in keeping track of your revenue and products however, it will help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this will surely help you wrap your head around the subject. Does TaxJar Support Stripe Test Mode
However, if managing your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure easy to complete, you might be better in doing it all by yourself.
FAQ Does TaxJar Support Stripe Test Mode
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n US$. If you’re using a different currency, you will need to convert it into USUSD prior to when TaxJar determines your tax.