Taxes have always been one of the most difficult things to handle, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. If you don’t have the budget to hire an accountant, making it your own could be risky. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
So , what can we do about it?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. Even though this is a long read it is possible to determine if TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? How Much Is TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in various industries like 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 make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting system perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one spot. That way, there’s no requirement to collect data from different channels and then organize it on a single platform. All you need to do is connect TaxJar and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. For this review, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage them. However, it will be up for you and your team to complete the process within the timeframe. TaxJar will only provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. This feature will ensure that everything is automated, from calculating taxes on sales to recording and processing it. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there you and your staff will have access to everything you need, like a list of your transactions, reports, and data.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. They not only let to know the amount you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard also allows you to fully view the overall sales taxes for your business. You can also export the data to a CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all 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 feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more details. Additionally their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small business proprietor, then this program could be perfect for you. It may not have all the features offered by TaxJar however, it does include the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for something different from the basic features, then the Professional plan could be the one for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the original plan?
In addition to accessing each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to opt for premium plans instead. It includes all of the features you need to make your tax filing easier. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of users and AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. How Much Is TaxJar
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require for your business.
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should give you enough time to determine whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of using 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 Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
It’s not just a way to help you track your products and revenue however, it will assist you in meeting your deadlines. This is also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar can help you reduce time and keep the track of each deadline and requirement you have to meet. If you’re living in an area with complex tax laws, this will certainly help you to get your head around it. How Much Is TaxJar
But if handling your taxes is simple, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the whole process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ How Much Is TaxJar
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar will calculate your tax.