Taxes have always been one of the hardest things to do regardless of whether you run your own business 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 full of things to be done. When you’re not able to afford enough money to hire an accountant, performing the task on yourself can be risky. If you overlook one thing and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. While this is lengthy but you’ll be able to assess whether TaxJar is the tool you require right now.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? E Tax Mta
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used 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 make sure you have a tax accounting software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important data in one location. This means that there is no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. In our review we’ll look into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on managing these. It is up to you and your staff to finish the tax returns in time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. With this feature, everything will be automated from calculating sales taxes through recording, and then processing them. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, like an inventory of your transactions, reports, and the data.
The best part about the feature you’ve chosen is they allow you to automatically update every day. Not only will they let you know how much you’ve accumulated, but they also help you track when your following payment is due.
The dashboard allows users to view in detail the total sales tax for your business. It is also possible to export the data in the form of a CSV file, if you want to use it for your accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to search for your documents when you’re in a pinch. Even even if you already have an accountant, this function can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything related to sales tax. You can check out their webinars, guides, or blog posts for additional details. Apart from that their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They claim that it’s the best plan to help you in filing and reporting. It includes sales tax reporting, four free yearly AutoFiles, and a CSV import. Even with the starter plan, you can access 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 offered by TaxJar but it comes with all the basics you require.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basics, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to opt for premium plans instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports API integrations, team users as well as AutoFiles.
They also have a staff dedicated for managing the account. But, they don’t divulge the price of the Premium plan. costs you. E Tax Mta
But they did state that the plan is custom-made for each user. Therefore, the cost will differ according to what you require for your business.
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to see whether the software is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a break. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then you ought to try this.
It’s not just a way to aid in tracking the sales and profits of your business It can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you save more time while keeping track of every deadline or requirement you need to meet. If you’re in an area with complex tax regulations, this will definitely help you get your mind around it. E Tax Mta
If handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
FAQ E Tax Mta
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in US$. If you’re using another currency, you’ll have to convert it to US$ prior to when TaxJar determines the tax.