Taxes are always one of the hardest things to do, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the funds to engage an accountant performing the task on yourself 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. But since it’s required and mandatory, there’s no other choice.
What is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can help you. Even though this is an extensive read but you’ll be able to assess whether TaxJar is the tool you require today.
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 we’ll dive right into.
What is TaxJar? Howmuch Does TaxJar Cost
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to keep everything organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. This means that there is no need to gather 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.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. For this review, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing tax returns for income, the team will instruct you on how to handle them. But, it is up for you and your team to complete the process on time. TaxJar is only there to guide you on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales in order to record and process it. There could be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports, and the data.
The greatest benefit of this feature is that it lets you to automatically update every day. They not only let you know how much you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the overall sales taxes within your company. It is also possible to export the data as the form of a CSV file, if you want to use it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to scramble for your documents when you’re in a pinch. Even if you already have your accountant, this function can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational costs.
The best part is that TaxJar provides training and tutorials, not just for their platform , but also everything related to sales tax. You can look through their webinars, guides, as well as their blog to find more information. Apart from that their sales tax calculator is helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a small-scale company manager, the plan could be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for a bit more than just the standard features Professional might be the right one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the basic plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to choose the Premium plan instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. Howmuch Does TaxJar Cost
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to determine whether the service is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is easy 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
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If this sounds like the way you do, then you should try this.
Not only will it aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they offer tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this will definitely help you get your head around it. Howmuch Does TaxJar Cost
If handling taxes is easy, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire process easy to do then you’re better to do it on your own.
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FAQ Howmuch Does TaxJar Cost
Which areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to US$ before TaxJar determines your tax.
