Taxes have always been one of the most difficult things to handle regardless of whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have enough money to hire an accountant, making it your own can be risky. If you make a mistake it could mean you have to do it all over again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is the tool you require today.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar How Much Does TaxJar Reporting Cost
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting platform perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key metrics in one place. So, there’s no need to collect information from multiple sources and organize it into a single platform. All you have to do is to integrate TaxJar then the system will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. For this review, we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income, the team will instruct you on how to handle these. But, it is up to you and your staff to finish the tax returns in time. TaxJar will only provide guidance on what you need to accomplish, but not manage 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. This feature will ensure that everything will be automated, from calculating sales taxes to recording and processing it. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as an inventory of your transactions, reports and data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only will they let you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the total sales tax for your business. It is also possible to export the information as CSV format. CSV file in case you require it in your financial planning and accounting processes or if your team requires it for central 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 hunt for your paperwork whenever you’re in the event of a need. Even when you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more information. Additionally their sales tax calculator should be 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 set your budget. Some platforms provide amazing features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller company owner, this plan will be perfect for you. It may not offer all of TaxJar’s features but it comes with all the basics you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get a bit more than just the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive business, you might need to go for an upgrade instead. It has all of the features needed to make your tax filing easier. In addition, they offer unlimited integrations with data imports, API integrations, team users as well as AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the amount that the Premium plan is going to cost. How Much Does TaxJar Reporting Cost
However, they did say that this plan is customized for every user. So the costs will vary depending on what you need for your company.
Fortunately, you don’t need to gamble your money just to determine if this service is right for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to determine whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a break. To summarize we’ll go over the pros and cons of making use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several 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 recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to aid in tracking your revenue and products, but it can also help you meet the deadlines you set. This is also an excellent option for accountants as they provide tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar will help you get more done while keeping the track of each deadline and requirement you have to meet. If you’re in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. How Much Does TaxJar Reporting Cost
If handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ How Much Does TaxJar Reporting Cost
What areas does TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar determines the tax.