Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the budget to hire an accountant, performing the task on your own can be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Even though this is a long read but you’ll be able to determine if TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar How Much Charge TaxJar
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of your channels of sales to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is your tax-reporting platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one spot. So, there’s no need to gather data in multiple channels and sort it into one platform. All you need to do is to integrate TaxJar then the system will handle the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. For our review we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income, the team will instruct you on managing the tax returns. However, it will be up for you and your team members to finish the tax returns within the timeframe. TaxJar will only provide guidance on 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 the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes to recording and processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard via 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 and information.
The best part about this feature is that it allows you to update automatically every day. They not only let you keep track of how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard also allows users to view in detail the total sales tax for your business. It is also possible to export the data as a CSV file, if you want to use it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operational costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but all things related to sales tax. You can check out their webinars, guides, or blog posts for additional information. In addition their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale business proprietor, then this program will be ideal for you. It may not have all of TaxJar’s features but it comes with all the basics you require.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get different from the basics Professional may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to go for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data Integrations with APIs, teams of members, and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. How Much Charge TaxJar
However, they did say that this plan is customized for each user. So the costs will vary depending on what you need to run your business.
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to see if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features 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 possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on 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 recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only can it aid in tracking your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar will help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re living in a place with complicated tax regulations, this will certainly help you to get your head around it. How Much Charge TaxJar
If handling your taxes is simple, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. 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.
FAQ How Much Charge TaxJar
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar determines the tax.