Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford enough money to engage an accountant performing the task on your own could be dangerous. If you overlook one thing, you might have to redo things again!
Most people want to skipping this step. But since it’s required, we have no choice.
So , what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. Even though this is lengthy it is possible to determine if TaxJar is the tool you require in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar How To Connect TaxJar With Goddady Bookkeeping
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, 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 your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s take a look at their features and services.
Services and features
One of the first things you’ll need to ensure is that your accounting tax platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. This means that there is no need to collect data from different channels and organize it into one platform. All you need to do is connect TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. In our review we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns, the team will instruct you on how to manage the tax returns. But, it is up for you and your staff to complete the process within the timeframe. TaxJar is there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating sales taxes to recording and processing them. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as a list of your transactions, reports, and data.
The greatest benefit of this option is the fact that they allow you to automatically update every day. Not only can they help you keep track of how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the overall sales taxes in your business. It is also possible to export your data to the form of a CSV file if you need it in your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork when you need them in the event of a need. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operational expenses.
The best part is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. You can check out their webinars, guides, and blog for more info. Apart from that the sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It also includes the tax on sales, four autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale business manager, the plan could be perfect for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get that is more than the basic features Professional may be the best option for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to choose an upgrade instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations, API integrations, team members and AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose how much the Premium plan costs you. How To Connect TaxJar With Goddady Bookkeeping
But they did state that the plan is custom-made for every user. So the costs will vary according to what you require for your company.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of using TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue, but it can also help you meet your deadlines. It is also a great opportunity for accountants since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax laws, this can certainly help you to get your head around it. How To Connect TaxJar With Goddady Bookkeeping
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete, you might be better off doing it on your own.
FAQ How To Connect TaxJar With Goddady Bookkeeping
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind 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 into USdollars before TaxJar determines the tax.