Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re packed with things to do. In the event that you do not have the budget to employ an accountant, making it your own can be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to avoid this step. But since it’s required to be done, we can’t choose not to.
So what can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. Even though this is lengthy it is possible to assess whether TaxJar is exactly what you need today.
Are you looking to watch videos instead? Watch 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, then let’s dive right in.
What is TaxJar? Get Users To Sign Up For TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It streamlines processes that require days to complete and finish within just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
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’re selling through multiple channels, it is essential 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 critical data in one location. This means that there is no need to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on how to handle these. It is up to you and your staff to complete the process in time. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything will be automated, from calculating sales tax to recording and processing them. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports, as well as data.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. Not only will they let to know the amount you’ve collected, but they also help you track when your following payments are due.
Their dashboard can also allow you to see the total sales tax for your business. It is also possible to export the information in CSV format. CSV file in case you require it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to scramble for your documents when you need them in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform but for anything that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional info. In addition, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They say it’s the best plan to help you with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller company proprietor, then this program should be ideal for you. It may not have all of TaxJar’s features but it comes with the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for something a bit more than just the basic features Professional may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to go for an upgrade instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports, API integrationsfor team members and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. Get Users To Sign Up For TaxJar
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to gauge whether the software is the right choice for you.
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Pros and Cons
Now that we’ve covered all you must know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of using TaxJar for your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it 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
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it assist you in keeping track of your products and revenue, but it can help you meet your deadlines. This is also an excellent opportunity for accountants since they have a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you reduce time and keep track of every deadline or requirement you need to meet. If you’re living in an area with complex tax laws, this will surely help you wrap your mind around it. Get Users To Sign Up For TaxJar
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you find the whole process easy to do and you’re comfortable with it, you may be better to do it on your own.
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FAQ Get Users To Sign Up For TaxJar
Which areas does TaxJar offer 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 to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar determines your tax.
