Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not 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 budget to employ an accountant, doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
So what can we do ?
We can always make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can help you. While this is lengthy but you’ll be able to determine if TaxJar is what you need in the present.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar Free TaxJar
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax platform 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 final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. That way, there’s no need to gather information from multiple sources and sort it into one platform. All you have to do is connect TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar lets customers submit their sales tax either manually or via TaxJar’s AutoFile feature. For our review we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns TaxJar will train you on how to manage these. However, it will be up for you and your staff to complete the process on time. TaxJar will only guide you on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything will be automated from calculating sales tax through recording, and then processing it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports, as well as information.
The best part about the feature you’ve chosen is it allows you to update your account automatically each day. They not only let to know the amount you’ve collected however, they can also help you determine when your next payments are due.
Their dashboard also allows you to fully view the total sales tax for your business. You can also export the data as the form of a CSV file in case you require it for your accounting and financial planning processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have for other operational costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also all things related to sales tax. Check out their webinars, guides or blog posts for additional info. Additionally their sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the most suitable plan for you to help you in filing and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company manager, the plan could be ideal for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for that is more than the basic features and options, 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.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large enterprise, you may want to go for premium plans instead. It has all of the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal how much the Premium plan will cost you. Free TaxJar
But they did state that the plan is custom-made for each user. The cost of the plan will be different in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to determine whether the software is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- You can track several sales channels
Cons
- 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.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that sounds like what you do, then you must try TaxJar.
It’s not just a way to help you track the sales and profits of your business It can also help you meet your deadlines. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you reduce time and keep on top of each deadline and obligation you have to meet. If you’re in a place with complicated tax regulations, this will definitely help you get your head around the subject. Free TaxJar
If handling taxes is easy, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire process easy to do, you might be better to do it on your own.
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FAQ Free TaxJar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar can calculate your tax.
