Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. If you don’t have the budget to engage 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. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can benefit you. While this is a long read it is possible to gauge whether TaxJar is the tool you require in the present.
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, then let’s get right into it.
What is TaxJar How To Connect TaxJar With Outright
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all of your sales channels to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and finish within 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 extensively used by online business owners to make their business more simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure you have a tax accounting software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. That way, there’s no need to gather data from different channels and organize it into one platform. All you have to do is connect TaxJar and the platform will do all the rest.
Other than 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 submit their sales tax manually or through TaxJar’s AutoFile feature. For this review, we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income TaxJar will train you on how to manage these. But, it is up for you and your staff to complete the process within the timeframe. TaxJar is there to guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process it. However, there might be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you need, like the list of transactions, reports, and data.
The greatest benefit of this option is the fact that it lets you to update your account automatically each day. Not only will they let you know how much you’ve accumulated however, they can also help you track when your following payment is due.
The dashboard allows you to see the sales tax totals in your business. You can also export the information to the form of a CSV file in case you require it to aid in accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials, not just on their platform, but all things that has to do with sales tax. You can check out their webinars, guides or blog posts for additional information. Additionally the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan to help you in filing and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company owner, this plan could be ideal for you. It might not include all the features offered by TaxJar, but it has all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get that is more than the standard features Professional might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge business, you might need to choose an upgrade instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrationsfor team users and AutoFiles.
They also have a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. How To Connect TaxJar With Outright
However, they did say that the plan is custom-made for each user. So the costs will vary depending on what you need for your company.
It’s a good thing that you don’t have to bet your life on it to see if this platform is for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to determine whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it assist you in keeping track of the sales and profits of your business It can assist you in meeting your deadlines. This is also an excellent option for accountants as they have the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this can definitely help you get your head around the subject. How To Connect TaxJar With Outright
If handling taxes is easy, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ How To Connect TaxJar With Outright
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in US$. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar determines the tax.