Taxes have always been among the most difficult tasks to complete, whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the funds to hire an accountant, performing the task on your own can be risky. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So 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 tool and explain how it can benefit you. While this is an extensive read, you should be able to assess whether TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What is TaxJar Importing Csvs Into TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to make sure you have a tax accounting platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one spot. So, there’s no need to gather data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to file their sales taxes manually or through TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on how to manage the tax returns. It is up for you and your staff to complete everything on time. TaxJar is only there to provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing it. But, it is possible to incur additional charges if they are not part of the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you require, including the list of transactions, reports, and data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated, 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 in your business. You can also export the information to CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. That means you won’t have to scramble for your documents when you need them in the event of a need. Even when you already have your accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also everything related to sales tax. You can check out their webinars, guides as well as their blog to find more information. Apart from that the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller business proprietor, then this program should be perfect for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for that is more than the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to go for an upgrade instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports Integrations with APIs, teams of users, and AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. Importing Csvs Into TaxJar
However, they did say that the plan is custom-made to each user. The cost of the plan will be different in line with what you require to run your business.
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering different options, they offer a 30-day free trial. It should give you enough time to see if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that’s what you do, then you ought to try this.
Not only can it aid in tracking your revenue and products however, it will also help you meet your deadlines. It is also a great platform for an accountant since they offer tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this can certainly help you to get your mind around it. Importing Csvs Into TaxJar
If handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. If you find the whole procedure easy to complete then you’re better off doing it by yourself.
FAQ Importing Csvs Into TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it to USdollars prior to when TaxJar will calculate the tax.