Taxes have always been one of the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the budget to hire an accountant, making it your own could be dangerous. If you overlook one thing it could mean you need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
So what can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can help you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar File Federal Tax Returns With TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that take days to complete and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s look into their features and services.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. This means that there is no need to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar, and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For our review we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to filing tax returns for income The team will guide you on managing these. But, it is up to you and your team to finish the tax returns within the timeframe. TaxJar is there to guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating taxes on sales to recording and processing it. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports and the data.
The greatest benefit of this option is the fact that it lets you to update automatically every day. Not only will they let you know how much you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard also allows you to see the total sales tax in your business. Additionally, you can export your data in the form of a CSV file, if you want to use it in your financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also for anything that has to do with sales tax. Check out their webinars, guides as well as their blog to find more info. Additionally the sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing features, but they can be too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It comes with sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business manager, the plan could be perfect for you. It may not offer all of TaxJar’s features but it comes with 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 tools.
If you’re looking for something a bit more than just the standard features Professional might be the right one for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to choose premium plans instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations as well as API integrations, team users and AutoFiles.
There is also a team dedicated for managing the account. But, they don’t divulge the price of the Premium plan. is going to cost. File Federal Tax Returns With TaxJar
But they did state that the plan is custom-made for each user. The cost of the plan will be different depending on what you need to run your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still considering different options, they offer a 30-day free trial. It should give you enough time to determine if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you should try this.
Not only can it assist you in keeping track of your revenue and products, but it can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they offer tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this can surely help you wrap your head around it. File Federal Tax Returns With TaxJar
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ File Federal Tax Returns With TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar will calculate your tax.