Taxes are always one of the most difficult things to handle, whether you’re running your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. If you don’t have enough money to engage an accountant performing the task on yourself can be dangerous. If you miss one detail it could mean you have to do it all over again!
Most people want to avoid this step. But since it’s required, we have no choice.
So , what can we do about it?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. While this is an extensive read it is possible to gauge whether TaxJar is what you need in the present.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? How To Get Previous Years Info On TaxJar
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for 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 require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to keep everything neat and simple. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check you have a tax accounting platform seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one place. This means that there is no need to collect data from different channels and then organize it on a single platform. All you need to do is connect TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. For this review, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns The team will guide you on managing them. But, it is up to you and your staff to complete the process in time. TaxJar is only 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. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing it. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. From there, you and your team can access everything you need, like an inventory of your transactions, reports and data.
The best part about this feature is that it lets you to automatically update every day. Not only can they help to know the amount you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. You can also export the information as a CSV file, if you want to use it in your financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar offers tutorials and training not only for their platform , but also for anything related to sales tax. You can check out their guides, webinars, and blog for more information. Apart from that their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They say it’s the most effective plan to help you with filing requirements or reporting. It includes the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small company owner, this plan will be ideal for you. It may not offer all of TaxJar’s features, but it has the essentials that you need.
You can also contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something that is more than the standard features and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up if you add custom features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to opt for the Premium plan instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team members and AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal how much the Premium plan is going to cost. How To Get Previous Years Info On TaxJar
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to see if the platform is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out 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 ought to try this.
Not only will it help you track your revenue and products however, it will help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Using TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax laws, this can surely help you wrap your mind around it. How To Get Previous Years Info On TaxJar
But if handling your taxes is simple, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire process easy to do then you’re better in doing it all on your own.
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FAQ How To Get Previous Years Info On TaxJar
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to US$ before TaxJar can calculate the tax.
