Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the funds to hire an accountant, performing the task on your own can be risky. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can assist you. Although this is quite a long read it is possible to gauge whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Check out 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, let’s dive right in.
What exactly is TaxJar? Have Tax Returns Been Delayed
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to keep everything simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting software perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one spot. This means that there is no need to gather information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar, and the platform will take care of 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 customers to submit their sales tax by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig into both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to manage the tax returns. However, it will be up for you and your team members to complete the process within the timeframe. TaxJar is there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. Through this feature, everything will be automated, from calculating taxes on sales in order to record and process it. However, there might be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports and data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. Not only will they let to know the amount you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard also allows you to see the sales tax totals for your business. Additionally, you can export the information as the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even even if you already have an accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll know better how much budget you have available for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but for anything that has to do with sales tax. You can look through their webinars, guides, and blog for more info. Apart from that their sales tax calculator can be beneficial when 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 your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small company proprietor, then this program could be ideal for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for different from the basics and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to opt for an upgrade instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan costs you. Have Tax Returns Been Delayed
However, they did mention that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need for your business.
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with multiple sales channels and uses numerous platforms. If that sounds like what you do, then you should try this.
It’s not just a way to help you track your products and revenue, but it can assist you in meeting your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax laws, this will certainly help you to get your head around the subject. Have Tax Returns Been Delayed
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all on your own.
FAQ Have Tax Returns Been Delayed
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar can calculate the tax.