Taxes are always one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. In the event that you do not have enough money to engage an accountant making it your own can be dangerous. If you make a mistake, you might have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. While this is lengthy, you should be able to determine if TaxJar is the tool you require right now.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar Does TaxJar Work With Stripe
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even 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.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical data in one location. That way, there’s no need to collect information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. For our review we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns, the team will instruct you on managing them. It is up to you and your team to finish the tax returns in time. TaxJar is only there to help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. With this feature, everything is automated, from calculating taxes on sales in order to record and process it. But, it is possible to incur extra fees if 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 compiled into a single dashboard via 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 and information.
The most appealing aspect of this feature is that it lets you to update automatically every day. Not only can they help you know how much you’ve collected, but they also help you determine when your next payment is due.
Their dashboard also allows you to see the sales tax totals in your business. You can also export the data in CSV format. CSV file if you need it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. That means you won’t have to search for your documents when you’re in the event of a need. Even if you already have your accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know better how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but all things related to sales tax. You can check out their guides, webinars, and blog for more info. Apart from that their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
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 also includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan could be ideal for you. It may not have all of TaxJar’s features, but it has the essentials that you need.
You can also contact the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get a bit more than just the basics, then the Professional plan could be the one for you. The price starts at $99 but you can increase it by adding custom features.
How different is it from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive company, you may need to opt for premium plans instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrations, team members and AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. will cost you. Does TaxJar Work With Stripe
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ according to what you require for your company.
It’s a good thing that 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 considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to see whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To summarize Here are the pros and cons of using TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple 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 valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it help you track your revenue and products It can assist you in meeting 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 about taxes through it.
The use of TaxJar can allow you to 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 will definitely help you get your head around it. Does TaxJar Work With Stripe
But if handling your taxes is simple, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire process easy to do then you’re better in doing it all by yourself.
FAQ Does TaxJar Work With Stripe
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate the tax.