Taxes have always been one of the most difficult things to handle regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the funds to hire an accountant, doing it on your own can be dangerous. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
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 well-known life-saving tool and how it can assist you. Although this is quite an extensive read but you’ll be able to assess whether 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 provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What is TaxJar? G Tax Center
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could take days to complete and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure is that your accounting tax system seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to show your key data in one location. 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 integrate TaxJar, and the platform will do the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to file their sales taxes either manually or via their AutoFile feature. For the purpose of this article, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns, the team will instruct you on managing the tax returns. But, it is up to you and your team members to finish the tax returns in time. TaxJar will only provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating sales tax through recording, and then processing them. There could be additional costs if the feature is not part of 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 put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you need, like a list of your transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. Not only can they help to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. It is also possible to export your data to the form of a CSV file in case you require it in your process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. It means you don’t need to search for your documents when you need them in the event of a need. Even if you already have your accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operational costs.
The best part is that TaxJar offers tutorials and training not only for their platform but all things that has to do with sales tax. You can check out their guides, webinars, and blog for more info. In addition their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It comes with sales tax reporting, four autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company owner, this plan could be ideal for you. It may not offer all the features of TaxJar but it comes with the essentials that you need.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the basic features Professional may be the best option for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
In addition to accessing all of the Starter plan’s features, you also have their support via phone access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive company, you may need to choose an upgrade instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited import integrations of data as well as API integrations, team members, and AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. G Tax Center
However, they did mention that this plan is tailor-fit to each user. So the costs will vary in line with what you require for your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is an excellent fit 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 advantages and disadvantages of using TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides 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.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If that’s what you do, then you ought to try this.
Not only can it aid in tracking your revenue and products It can also help you meet your deadlines. This is also an excellent platform for an accountant since they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar will help you save more time while keeping track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this can certainly help you to get your mind around it. G Tax Center
If handling your taxes is straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
FAQ G Tax Center
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of 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.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar will calculate the tax.