Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. When you’re not able to afford the budget to engage an accountant performing the task on yourself can be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. Even though this is an extensive read but you’ll be able to determine if TaxJar is what you need right now.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar If I Cancel TaxJar Will I Still Have Access To Previous Info
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is your tax-reporting software perfectly integrates with your sales channel. If you have multiple sales channels, you must maintain everything in line. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your key data in one location. So, there’s no need to gather data in multiple channels and sort it into one platform. All you have to do is integrate TaxJar, it will do the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows clients to make sales tax filings manually or through their AutoFile feature. For our review we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing tax returns for income, the team will instruct you on how to handle them. It is up to you and your team to complete everything on time. TaxJar is there to guide you on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. Through this feature, everything is 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 that you can utilize TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there, you and your team will have access to everything you require, including the list of transactions, reports, and data.
The best part about this feature is that it allows you to automatically update every day. Not only will they let you know how much you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the total sales tax in your business. It is also possible to export your data as a CSV file if you need it for your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount 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 to cover other operating expenses.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also for anything connected to sales tax. You can check out their webinars, guides, as well as their blog to find more information. Additionally, their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide 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 levels and what each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most effective plan if you need help in filing and reporting. It also includes the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale business proprietor, then this program will be perfect for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking to get a bit more than just the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large company, you may need to choose the Premium plan instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations as well as API integrations, team members as well as AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan is going to cost. If I Cancel TaxJar Will I Still Have Access To Previous Info
But they did state that the plan is custom-made for every user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to determine whether the software is a good fit for you.
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Pros and Cons
We’ve covered everything you need to be aware of TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of the use of TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for 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
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then you should try this.
Not only can it aid in tracking your revenue and products however, it will also help you meet your deadlines. It’s also an excellent option for accountants as they offer a Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Using TaxJar will help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re in an area with complex tax regulations, this will surely help you wrap your mind around it. If I Cancel TaxJar Will I Still Have Access To Previous Info
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do, you might be better off doing it by yourself.
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FAQ If I Cancel TaxJar Will I Still Have Access To Previous Info
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar can calculate the tax.
