Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. More so 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. In the event that you do not have enough money to engage an accountant doing it on your own can be dangerous. If you miss one detail, you might have to redo things again!
Nearly everyone would prefer 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 well-known life-saving tool and explain how it can help you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is what you need today.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What is TaxJar Does TaxJar Sync With Quickbooks Desktop
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting platform perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to show your most important metrics in one spot. This means that there is no need to collect information from multiple sources and organize it into a single platform. All you need to do is connect TaxJar, it will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. When the time is right for the filing of income tax returns The team will guide you on how to handle the tax returns. It is up to you and your team members to finish the tax returns on time. TaxJar is there to provide guidance on what you should 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. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team will have access to everything you need, such as an inventory of your transactions, reports, and the data.
The most appealing aspect of this option is the fact that it allows you to automatically update every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payments are 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 a CSV file, if you want to use 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 the track of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even when you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training not only for their platform , but also all things related to sales tax. Check out their guides, webinars, and blog for more details. In addition the sales tax calculator is helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company proprietor, then this program should be ideal for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking to get different from the standard features Professional may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
How different is it from the original plan?
In addition to having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also have 12 free AutoFiles each year.
Premium
If you run a large business, you might need to opt for an upgrade instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as API integrationsfor team users, and AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge how much the Premium plan costs you. Does TaxJar Sync With Quickbooks Desktop
But they did state that this plan is tailor-fit for every user. So the costs will vary in line with what you require for your business.
Free Trial
Luckily, you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to see whether the software is a good fit for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. To sum it all up, here are the pros and cons of the use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with many sales channels and utilizes numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it aid in tracking the sales and profits of your business however, it will also help you meet your deadlines. This is also an excellent opportunity for accountants since they offer tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you save more time while keeping track of every deadline and obligation you have to meet. If you live in a place with complicated tax regulations, this will surely help you wrap your head around the subject. Does TaxJar Sync With Quickbooks Desktop
If handling taxes is easy, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
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FAQ Does TaxJar Sync With Quickbooks Desktop
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using another currency, you will need to convert it to USdollars before TaxJar will calculate your tax.
