Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the budget to employ an accountant, doing it on your own can be risky. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory 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. While this is lengthy it is possible to assess whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? How Much Does Diamond-Tex Cost
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax software is compatible along with sales funnels. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. So, there’s no need to collect information from multiple sources and then organize it on a single platform. All you have to do is integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings either manually or via their AutoFile feature. In our review we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on managing them. But, it is up for you and your team to complete everything within the timeframe. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales in order to record and process them. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through 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 data.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. They not only let you know how much you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the total sales tax in your business. Additionally, you can export the information to CSV format. CSV file if you need it for your accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. It means you don’t need to search for your documents whenever you’re in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have for other operating costs.
What’s more is that TaxJar provides training and tutorials not only on their platform, but for anything related to sales tax. You can look through their guides, webinars, and blog for more information. In addition, their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features, but it has the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for different from the standard features Professional may be the best option for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the starter 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, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for the Premium plan instead. It includes all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan costs you. How Much Does Diamond-Tex Cost
However, they did say that this plan is customized for each user. Therefore, the cost will differ in line with what you require to run your business.
It’s a good thing that you don’t have to risk your money to determine if this service is right for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to gauge if the platform is the right choice 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 the use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to 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 out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If that sounds like what you do, then you should try this.
Not only will it aid in tracking your products and revenue It can help you meet the deadlines you set. It is also a great option for accountants as they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax regulations, this will definitely help you get your head around it. How Much Does Diamond-Tex Cost
However, if managing your taxes is simple, then TaxJar might not be a good expense. If you have only 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 How Much Does Diamond-Tex Cost
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using a different currency, you will need to convert it into USUSD prior to when TaxJar can calculate the tax.