Taxes have always been among the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. In the event that you do not have enough money to employ an accountant, doing it on your own can be dangerous. If you miss one detail, you might need to repeat the process!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. While this is a long read, you should be able to determine if TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What exactly is TaxJar? How Often Does TaxJar Pay Taxes
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. 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 with your sales channel. If you’re using multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical data in one location. This means that there is no need to gather data from different channels and then organize it on a single platform. All you have to do is integrate TaxJar, and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. In this review, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up for you and your team to complete the process on time. TaxJar is there to provide guidance on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as a list of your transactions, reports, as well as information.
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 earned, but they also help you track when your following payment is due.
The dashboard allows users to view in detail the total sales tax for your business. You can also export your data to CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. It means you don’t need to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have available for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything related to sales tax. Check out their guides, webinars, as well as their blog to find more details. Apart from that their sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan to help you with filing requirements or reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale business proprietor, then this program will be perfect for you. It might not include all the features of TaxJar but it comes with the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also be able to use their integration features.
If you’re looking for a bit more than just the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the basic plan?
Apart from having access to all of the Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to opt for an upgrade instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.
They also have a staff who are devoted for managing the account. However, they don’t disclose how much the Premium plan costs you. How Often Does TaxJar Pay Taxes
However, they did mention that this plan is customized to each user. So the costs will vary according to what you require for your company.
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- 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
- Some countries won’t 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 clearly laid down, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then ought to try this.
It’s not just a way to help you track your revenue and products, but it can assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can help you save more time while keeping the track of each deadline and obligation you have to meet. If you live in a region with a lot of tax laws, this can certainly help you to get your head around the subject. How Often Does TaxJar Pay Taxes
But if handling your taxes is simple, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do, you might be better in doing it all on your own.
FAQ How Often Does TaxJar Pay Taxes
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with 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 does not convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar can calculate your tax.