Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. If you don’t have the budget to engage an accountant making it yourself can be dangerous. If you overlook one thing it could mean you need to repeat the process!
Almost everyone wants to skipping this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can make our lives easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can help you. While this is a long read, you should be able to determine if TaxJar is the tool you require right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar H And J Tax
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, 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 make sure you’re in compliance with sales tax requirements. It streamlines processes that take days to complete and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates with your sales channel. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one spot. This means that there is no requirement to collect data from different channels and then organize it on one platform. All you need to do is integrate TaxJar, then the system will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings either manually or via their AutoFile feature. In our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on how to handle these. It is up to you and your team to complete the process in time. TaxJar is there to help you understand what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. With this feature, everything is automated, from calculating sales taxes to recording and processing them. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you require, including the list of transactions, reports and information.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows users to view in detail the total sales tax within your company. It is also possible to export the information in a CSV file if you need it in your process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. It means you don’t need to search for your documents when you need them in the event of a need. Even when you already have your accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your money more efficiently. You’ll know exactly how much budget you have available for other operating expenses.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but all things that has to do with sales tax. You can look through their guides, webinars, or blog posts for additional details. Additionally the sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small company manager, the plan will be ideal for you. It may not offer all of TaxJar’s features, but it has the essentials that you need.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for a bit more than just the basic features Professional could be the one for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive company, you may need to go for premium plans instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of users as well as AutoFiles.
There is also a team dedicated for managing the account. But, they don’t divulge how much the Premium plan is going to cost. H And J Tax
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for your business.
It’s a good thing that 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 various options, they provide 30 days of free trial. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you should try this.
Not only will it aid in tracking your products and revenue It can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to meet. If you’re living in a region with a lot of tax laws, this can certainly help you to get your head around it. H And J Tax
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. If you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ H And J Tax
What areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USUSD before TaxJar can calculate your tax.