Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. If you don’t have enough money to engage an accountant doing it on yourself can be dangerous. If you overlook one thing, you might have to redo things again!
Nearly everyone would prefer to skip this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. Although this is quite an extensive read it is possible to determine if TaxJar is exactly what you need right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar? Does The TaxJar Core Vision/Mission Align With My Personal Views?
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is simple and organized. Let’s look into their features and services.
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Services and features
Integration
One of the most important things you’ll need to make sure is your tax-reporting system perfectly integrates with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key data in one location. So, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is to integrate TaxJar it will do the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. In this review, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income The team will guide you on how to manage them. It is up for you and your team to complete everything on time. TaxJar will only 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 will be automated, from calculating taxes on sales to recording and processing them. But, it is possible to incur extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you require, including the list of transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let you know how much you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the total sales tax in your business. You can also export the information in CSV format. CSV file in case you require it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even when you already have your accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more information. Additionally, their sales tax calculator can be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand 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 look into TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced 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 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale company proprietor, then this program will be ideal for you. It might not include all of TaxJar’s features but it comes with all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get that is more than the basic features, then the Professional plan might be the right one for you. It starts at $99, however, it could go up when you add additional features.
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 advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive enterprise, you may want to opt for an upgrade instead. It includes all of the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports API integrations, team users, and AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. Does The TaxJar Core Vision/Mission Align With My Personal Views?
But they did state that this plan is customized for every user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still looking into different options, they offer a 30-day 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
We’ve covered everything you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of using TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
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 sounds like what you’re doing, then you should try this.
Not only will it aid in tracking your products and revenue however, it will also help you meet the deadlines you set. It is also a great option for accountants as they have tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to get more done while keeping on top of each deadline and obligation you have to meet. If you’re living in an area with complex tax regulations, this will surely help you wrap your mind around it. Does The TaxJar Core Vision/Mission Align With My Personal Views?
But if handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure easy to complete, you might be better to do it on your own.
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FAQ Does The TaxJar Core Vision/Mission Align With My Personal Views?
What areas does TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to US$ before TaxJar determines your tax.
