Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford enough money to employ an accountant, making it yourself can be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What is the best way to deal with it?
We can make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. Even though this is a long read it is possible to determine if TaxJar is the tool you require right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? Export Quickbooks Taxes For TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar is used 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 business owners who run online businesses to keep everything neat and simple. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need 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 metrics in one spot. This means that there is no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar, then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax manually or through their AutoFile feature. In our review we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns, the team will instruct you on how to handle the tax returns. But, it is up for you and your team members to finish the tax returns on time. TaxJar will only help you understand what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you require, including the list of transactions, reports, as well as information.
The best part about the feature you’ve chosen is they allow you to update automatically every day. Not only will they let you keep track of how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard also allows you to see the total sales tax in your business. You can also export the data to a CSV file in case you require it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this feature will 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 available for other operating expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform but all things that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional info. Additionally, their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing structures and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan if you need help in filing and reporting. It also includes the tax on sales, four annual AutoFiles for free, as well as an CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small-scale company proprietor, then this program will be ideal for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for something different from the basics and options, then the Professional plan could be the one for you. The price starts at $99 but it can go higher by adding custom features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also have their support via phone access to APIs, as well as advanced CSV import. You can also have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations as well as Integrations with APIs, teams of members as well as AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. Export Quickbooks Taxes For TaxJar
However, they did mention that this plan is customized to each user. The cost of the plan will be different according to what you require to run your business.
It’s a good thing that you don’t have to risk your money to see if this platform is for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to gauge whether the service is the right choice for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your company.
- 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
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it help you track your products and revenue, but it can help you meet your deadlines. This is also an excellent platform for an accountant since they provide a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar will help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you live in an area with complex tax regulations, this will definitely help you get your head around it. Export Quickbooks Taxes For TaxJar
If handling taxes is easy and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure easy to complete, you might be better off doing it by yourself.
FAQ Export Quickbooks Taxes For TaxJar
Which areas does TaxJar offer API assistance?
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 link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions are in USdollars. If you’re using a different currency, you will need to convert it to USdollars before TaxJar can calculate the tax.