Taxes have always been among the hardest things to do regardless of whether you run your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have enough money to hire an accountant, performing the task on your own could be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. Although this is quite a long read, you should be able to assess whether TaxJar is what you need in the present.
Are you looking video streaming instead? 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 get right into it.
What exactly is TaxJar? Have Tax Refunds Been Delayed
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure is that your accounting tax system is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key data in one location. This means that there is no need to collect information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar it will do all the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax either manually or via their AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns TaxJar will train you on managing the tax returns. It is up for you and your team members to complete everything within the timeframe. TaxJar is there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything will be automated, from calculating sales tax to recording and processing them. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you require, including an inventory of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. Not only can they help you know how much you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the sales tax totals within your company. It is also possible to export your data as CSV format. CSV file if you need it in your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, and blog for more info. In addition, their sales tax calculator can be beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller company owner, this plan could be ideal for you. It might not include all the features offered by TaxJar but it comes with all the basics you require.
You can also contact their customer support via their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking for something that is more than the basics and options, then the Professional plan could be the one for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to go for the Premium plan instead. It comes with all the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrationsfor team users, and AutoFiles.
There is also a team that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. is going to cost. Have Tax Refunds Been Delayed
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to see whether the service is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you should know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
Not only will it assist you in keeping track of your products and revenue, but it can also help you meet your deadlines. It is also a great opportunity for accountants since they provide a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this will definitely help you get your mind around it. Have Tax Refunds Been Delayed
However, if managing taxes is easy and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure easy to complete then you’re better in doing it all on your own.
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FAQ Have Tax Refunds Been Delayed
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar can calculate your tax.
