Taxes are always one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to hire an accountant, performing the task on yourself can be dangerous. If you miss one detail, you might have to redo things again!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
We can always 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 assist you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is what you need right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What is TaxJar If You Cancel Your TaxJar Services, Can You Still Access Your Account?
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and is completed in just 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 business owners who run online businesses to make their business more simple and organized. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. This means that there is no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is connect TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. For our review we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns The team will guide you on how to manage these. It is up for you and your team members to complete the process within the timeframe. TaxJar is only there to guide you on what you should accomplish, but not manage 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 all forms by hand. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process it. But, it is possible to incur additional charges if they are not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled 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, such as the list of transactions, reports, and information.
The greatest benefit of this option is the fact that it lets you to update automatically every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard also allows you to see the total sales tax for your business. You can also export the data to the form of a CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. It means you don’t need to hunt for your paperwork when you need them in a pinch. Even when you already have your accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only on their platform, but everything related to sales tax. You can look through their guides, webinars, as well as their blog to find more details. Additionally, their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They claim that it’s the best plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale company proprietor, then this program should be ideal for you. It might not include all the features of TaxJar however, it does include all the basics you require.
You can also contact the support team via their email support chart. You’ll also be able to use their integration tools.
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, but it can go higher if you add custom features.
What is the difference from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to choose the Premium plan instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. If You Cancel Your TaxJar Services, Can You Still Access Your Account?
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require for your company.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to see whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To summarize Here are the pros and cons of the use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- 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
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it help you track your products and revenue, but it can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
The use of TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax laws, this will definitely help you get your head around the subject. If You Cancel Your TaxJar Services, Can You Still Access Your Account?
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ If You Cancel Your TaxJar Services, Can You Still Access Your Account?
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate your tax.