Taxes have always been among the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. In the event that you do not have the budget to hire an accountant, making it your own can be dangerous. If you overlook one thing it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required, we have no choice.
So what can we do ?
We can always make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. While this is an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar? Does TaxJar Work With Sage 50
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it across all your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax software seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one spot. This means that there is no need to gather data from different channels and then organize it on one platform. All you need to do is integrate TaxJar then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. In our review we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for the filing of income tax returns, the team will instruct you on managing the tax returns. But, it is up for you and your staff to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you should 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 fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales taxes in order to record and process it. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you require, including a list of your transactions, reports, as well as data.
The best part about this feature is that it allows you to update your account automatically each day. They not only let to know the amount you’ve collected however, they can also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the total sales tax within your company. Additionally, you can export your data as the form of a CSV file if you need it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. It means you don’t need to search for your documents when you need them in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll be aware of the budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also all things connected to sales tax. Check out their webinars, guides, as well as their blog to find more details. In addition their sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan to help you in filing and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a smaller business manager, the plan will be perfect for you. It might not include all the features of TaxJar however, it does include the basic features you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basics and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large company, you may need to opt for the Premium plan instead. It has all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited data import integrations, API integrations, team members and AutoFiles.
They also have a team who are devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. Does TaxJar Work With Sage 50
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to help you track your products and revenue It can help you meet the deadlines you set. It is also a great option for accountants as they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to meet. If you’re in an area with complex tax laws, this can certainly help you to get your head around it. Does TaxJar Work With Sage 50
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
FAQ Does TaxJar Work With Sage 50
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar will calculate the tax.