Taxes have always been among the hardest things to do regardless of whether you run your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have enough money to engage an accountant performing the task on your own can be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can assist you. While this is an extensive read but you’ll be able to determine if TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? How Often Does TaxJar Update Tax Tables
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of the sales channels you use to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is to integrate TaxJar, and the platform will do 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 that they can connect with:
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. For this review, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns TaxJar will train you on how to manage these. However, it will be up for you and your staff to finish the tax returns within the timeframe. TaxJar is there to guide you on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales tax to recording and processing them. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there you and your team will have access to everything you require, including an inventory of your transactions, reports, as well as data.
The greatest benefit of this feature is that it lets you to automatically update every day. Not only will they let you know how much you’ve accumulated, but they also help you track when your following payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export your data as a CSV file if you need it to aid in process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re in a pinch. Even even if you already have an accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform but everything related to sales tax. Check out their webinars, guides and blog for more info. Apart from that, their sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. That’s why for 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.
The Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small company manager, the plan should be ideal for you. It may not offer all the features offered by TaxJar however, it does include the basic features you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get a bit more than just the standard features Professional could be the one for you. It’s priced at $99 but you can increase it if you add custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to go for the Premium plan instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of members as well as AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. is going to cost. How Often Does TaxJar Update Tax Tables
But they did state that this plan is customized for each user. So the costs will vary in line with what you require for your company.
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to gauge whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes many platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to help you track your products and revenue however, it will help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this will definitely help you get your mind around it. How Often Does TaxJar Update Tax Tables
If handling taxes is easy, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete, you might be better in doing it all by yourself.
FAQ How Often Does TaxJar Update Tax Tables
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind 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 into USdollars prior to when TaxJar determines the tax.