Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the budget to hire an accountant, making it your own can be dangerous. If you make a mistake, you might have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. While this is a long read it is possible to assess whether TaxJar is what you need today.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar G2 Crowd TaxJar
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to ensure compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting platform perfectly integrates along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one place. That way, there’s no need to gather data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar, and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers file their sales taxes by hand or using their AutoFile feature. For our review we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns The team will guide you on managing them. It is up to you and your team members to finish the tax returns on time. TaxJar is there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales tax through recording, and then processing it. But, it is possible to incur additional charges if they are not part of the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to all the information you need, like the list of transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. They not only let to know the amount you’ve earned however, they can also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. Additionally, you can export the information as a CSV file, if you want to use 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 on top of all your sales channels. It means you don’t need to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials, not just for their platform , but also everything connected to sales tax. You can check out their webinars, guides, or blog posts for additional details. Apart from that, their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance in filing and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller company proprietor, then this program could be ideal for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for something a bit more than just the basic features, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for an upgrade instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited import integrations of data API integrations, team members as well as AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge how much the Premium plan will cost you. G2 Crowd TaxJar
However, they did say 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.
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still looking into various options, they provide 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.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy 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 be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to aid in tracking your products and revenue It can help you meet your deadlines. It’s also an excellent opportunity for accountants since they offer tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re living in an area with complex tax laws, this can surely help you wrap your head around the subject. G2 Crowd TaxJar
If handling your taxes is straightforward and straightforward, 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 track all of it. If you’re finding the entire process easy to do, you might be better off doing it by yourself.
FAQ G2 Crowd TaxJar
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar will calculate your tax.