Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the budget to hire an accountant, doing it on your own could be risky. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
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 popular life-saving tool and explain how it can help you. While this is lengthy it is possible to assess whether TaxJar is exactly what you need in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? Godaddy Bookkeeping To TaxJar
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s look into their features and services.
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Services and features
Integration
One of the most important things you’ll need to ensure you have a tax accounting software seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is connect TaxJar then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. In this review, we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income The team will guide you on how to handle these. However, it will be up for you and your staff to complete the process in time. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating taxes on sales to recording and processing them. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you need, like the list of transactions, reports, and data.
The best part about the feature you’ve chosen is it lets you to update automatically every day. They not only let you know how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the total sales tax in your business. Additionally, you can export the information to the form of a CSV file if you need it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. This means that you don’t have to search for your documents when you’re in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know better how much budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything related to sales tax. You can check out their webinars, guides, as well as their blog to find more details. In addition the sales tax calculator should be beneficial when you’re planning to 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. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the most suitable plan for you if you need help with filing requirements and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program could be perfect for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for that is more than the basics Professional may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to go for an upgrade instead. It includes all of the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as Integrations with APIs, teams of members and AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan costs you. Godaddy Bookkeeping To TaxJar
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to see whether the software is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar Let’s relax. To summarize, here are the pros and cons of making use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you 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 can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it aid in tracking your revenue and products, but it can also help you meet your deadlines. It is also a great opportunity for accountants since they have a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. Godaddy Bookkeeping To TaxJar
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
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FAQ Godaddy Bookkeeping To TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring 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 have to convert it into USUSD prior to when TaxJar will calculate your tax.
