Taxes have always been among the most difficult tasks to complete, whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the budget to hire an accountant, making it yourself can be risky. If you overlook one thing it could mean you have to do it all over again!
Most people want to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. Even though this is a long read, you should be able to assess whether TaxJar is what you need right now.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? How Much TaxJar Cost
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is organized and straightforward. 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 that your accounting tax software seamlessly works well with your sales channel. If you’re using multiple sales channels, it is essential to maintain everything in line. The most important thing is not to be penalized 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 organize it into a single platform. All you have to do is integrate TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income, the team will instruct you on how to manage them. However, it will be up to you and your team to finish the tax returns in time. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales tax to recording and processing it. However, there might be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you need, like a list of your transactions, reports, and information.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. Not only will they let you keep track of how much you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to see the overall sales taxes for your business. You can also export your data to CSV format. CSV file if you need it for your accounting and financial planning processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to scramble for your documents when you need them in the event of a need. Even when you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything related to sales tax. You can check out their webinars, guides, and blog for more information. Apart from that 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 determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. The company claims that it’s the most effective plan if you need help in filing and reporting. It also includes sales tax reporting, four autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small business proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for different from the standard features Professional may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to opt for premium plans instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team members as well as AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal how much the Premium plan will cost you. How Much TaxJar Cost
However, they did mention that this plan is customized to each user. So the costs will vary 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 find out if the platform is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to see whether the software is a good fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you should try this.
It’s not just a way to help you track your revenue and products however, it will assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping the track of each deadline and obligation you have to meet. If you’re living in a place with complicated tax laws, this can surely help you wrap your head around the subject. How Much TaxJar Cost
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole process easy to do then you’re better off doing it by yourself.
FAQ How Much TaxJar Cost
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every 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 have to convert it to USdollars before TaxJar will calculate your tax.