Taxes have always been among the most difficult things to handle regardless of whether you’re running an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have the funds to hire an accountant, making it yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can benefit you. Even though this is an extensive read it is possible to determine if TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar How Long Does It Tax TaxJar To Import Data
The company was 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 the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is neat and simple. Let’s look into their features and services.
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, it is essential to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. So, there’s no need to gather information from multiple sources and sort it into a single platform. All you need to do is connect TaxJar, and the platform will take care of all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings manually or through their AutoFile feature. In our review we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for the filing of income tax returns The team will guide you on how to handle them. It is up to you and your team members to finish the tax returns on time. TaxJar is only there to guide you on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating sales tax to recording and processing it. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled 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 need, like the list of transactions, reports, and data.
The greatest benefit of this option is the fact that it lets you to automatically update every day. Not only will they let you know how much you’ve collected however, they can also help you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. It is also possible to export the information to the form of a CSV file if you need it for your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also everything that has to do with sales tax. You can check out their webinars, guides and blog for more info. Additionally the sales tax calculator should 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. Certain platforms have amazing capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not have all the features of TaxJar but it comes with 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 tools.
If you’re looking for something different from the basic features and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to go for an upgrade instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited data import integrations, Integrations with APIs, teams of members and AutoFiles.
They also have a staff dedicated to managing your account. They don’t reveal how much the Premium plan is going to cost. How Long Does It Tax TaxJar To Import Data
However, they did say that this plan is customized for every user. The cost of the plan will be different depending on what you need for your business.
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on 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 recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it aid in tracking your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent option for accountants as they have a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you get more done while keeping track of every deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this can definitely help you get your head around the subject. How Long Does It Tax TaxJar To Import Data
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole process easy to do, you might be better off doing it by yourself.
FAQ How Long Does It Tax TaxJar To Import Data
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar will calculate your tax.