Taxes are always one of the hardest things to do regardless of whether you run a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the budget to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing, you might have to redo things again!
Most people want to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Even though this is a long read but you’ll be able to determine if TaxJar is the tool you require today.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? How Much Does TaxJar Cost
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all the sales channels you use to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax system is compatible along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to be penalized for missing a single minor point.
TaxJar lets you display your key metrics in one spot. So, there’s no requirement to collect information from multiple sources and sort it into one platform. All you have to do is connect TaxJar, and the platform will handle all the rest.
Other than that, 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 make sales tax filings manually or through their AutoFile feature. For our review we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to handle these. It is up to you and your staff to complete the process within the timeframe. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating sales tax through recording, and then processing it. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. All orders made through 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 a list of your transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow you to fully view the overall sales taxes in your business. You can also export the information as the form of a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even if you already have your accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar provides training and tutorials, not just for their platform but everything related to sales tax. You can check out their webinars, guides, and blog for more info. Apart from that their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most effective plan to help you 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. With the starter plan, you have access to their AI tax advice.
If you’re a small-scale company owner, this plan should be ideal for you. It may not have all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking for that is more than the standard features and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up by adding custom features.
So how different is it from the basic plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to choose the Premium plan instead. It has all of the features you need to make your tax filing easier. In addition, they offer unlimited integrations with data imports API integrations, team members, and AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge how much the Premium plan costs you. How Much Does TaxJar Cost
However, they did say that the plan is custom-made to each user. The cost of the plan will be different depending on what you need to run your business.
Luckily, you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of using TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If this sounds like the way you do, then you should try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will surely help you wrap your mind around it. How Much Does TaxJar Cost
However, if managing taxes is easy, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure easy to complete then you’re better in doing it all on your own.
FAQ How Much Does TaxJar Cost
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect 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 does not convert currency values. All transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to US$ before TaxJar determines the tax.