Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, doing it on your own can be dangerous. If you overlook one thing, you might 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.
What can we do ?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Although this is quite a long read but you’ll be able to determine if TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Watch 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 let’s get right into it.
What exactly is TaxJar? Enroll In TaxJar Auto-File Cancel
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is neat and simple. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. This means that there is no requirement to collect information from multiple sources and organize it into one platform. All you need to do is to integrate TaxJar, it will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to make sales tax filings by hand or using the AutoFile feature. In our review we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. Once the time comes for filing tax returns for income, the team will instruct you on managing these. However, it will be up to you and your team members to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated, from calculating sales tax in order to record and process it. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, like the list of transactions, reports, and data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow users to view in detail the total sales tax within your company. It is also possible to export the information in the form of a CSV file in case you require it for your financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but all things related to sales tax. You can check out their webinars, guides, and blog for more details. Apart from that their sales tax calculator is 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. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and what each of those options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan if you need help 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 can access their AI tax tips.
If you’re a small business proprietor, then this program should be perfect for you. It might not include all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration features.
If you’re looking for something that is more than the standard features Professional may be the best option for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the starter plan?
In addition to having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to choose an upgrade instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited data import integrations API integrations, team users as well as AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal how much the Premium plan will cost you. Enroll In TaxJar Auto-File Cancel
However, they did say that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on 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 down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you ought to try this.
It’s not just a way to aid in tracking your revenue and products, but it can help you meet the deadlines you set. It is also a great opportunity for accountants since they have a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this can definitely help you get your head around it. Enroll In TaxJar Auto-File Cancel
However, if managing your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure simple to follow, you might be better to do it on your own.
FAQ Enroll In TaxJar Auto-File Cancel
Which areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar can calculate the tax.