Taxes are always 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 finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have enough money to employ 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!
Most people want to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can help you. Even though this is lengthy but you’ll be able to assess whether TaxJar is exactly what you need today.
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 we’ll dive right into.
What exactly is TaxJar? How To Cancel TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates along with sales funnels. If you’re using multiple sales channels, you must keep everything in place. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. So, there’s no requirement to collect data in multiple channels and organize it into one platform. All you need to do is to integrate TaxJar, then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. In our review we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to manage these. But, it is up to you and your team members to complete everything on time. TaxJar is only there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales to recording and processing them. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as the list of transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. Not only will they let you keep track of how much you’ve collected, but they also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the overall sales taxes in your business. It is also possible to export the data as a CSV file in case you require it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. It means you don’t need to search for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll know better how much budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just on their platform, but everything related to sales tax. You can check out their guides, webinars, as well as their blog to find more information. In addition, 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 can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small business owner, this plan should be ideal for you. It may not have all the features of TaxJar but it comes with the basic features you require.
You can also contact their support team with their email support chart. You’ll also have access to their integration tools.
If you’re looking for something that is more than the basics, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to opt for an upgrade instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited data import integrations API integrationsfor team members as well as AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan costs you. How To Cancel TaxJar
But they did state that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your business.
Fortunately, you don’t need to gamble your money just to see if this platform is the right one for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- 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 valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you must try TaxJar.
It’s not just a way to aid in tracking your products and revenue, but it can help you meet the deadlines you set. It is also a great option for accountants as they have a Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this can definitely help you get your head around the subject. How To Cancel TaxJar
If handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire process easy to do then you’re better in doing it all on your own.
FAQ How To Cancel TaxJar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to US$ before TaxJar can calculate the tax.