Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues 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, doing it on your own can be risky. If you miss one detail it could mean you have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
What can we do about it?
We can make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving device and how it can benefit you. Even though this is lengthy it is possible to determine if TaxJar is what you need right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? How Accuratae Is TaxJar
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 your entire sales tax life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax software perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for 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 data in multiple channels and sort it into one platform. All you need to do is connect TaxJar, then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. For this review, we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing income tax returns, the team will instruct you on how to manage these. It is up to you and your staff to complete everything on time. TaxJar is there to guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating sales tax to recording and processing it. However, there might be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled 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 a list of your transactions, reports and information.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned 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 overall sales taxes in your business. It is also possible to export the data in the form of a CSV file, if you want to use it in your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to scramble for your documents when you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar provides training and tutorials not only for their platform , but also everything related to sales tax. You can look through their guides, webinars, as well as their blog to find more details. In addition their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most effective plan if you need help in filing and reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small company owner, this plan could be perfect for you. It may not offer all the features of TaxJar however, it does include the essentials that you need.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for something different from the basics and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to opt for an upgrade instead. It has all of the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations, API integrations, team users as well as AutoFiles.
They also have a staff dedicated for managing the account. However, they don’t disclose how much the Premium plan costs you. How Accuratae Is TaxJar
However, they did mention that this plan is tailor-fit for each user. So the costs will vary in line with what you require to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to see whether the software is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- 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 to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then should try this.
Not only will it aid in tracking your revenue and products, but it can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to meet. If you’re living in an area with complex tax laws, this can surely help you wrap your head around it. How Accuratae Is TaxJar
But if handling taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
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FAQ How Accuratae Is TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar can calculate the tax.
