Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have enough money to employ an accountant, doing it on your own 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 skipping this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can make life 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 lengthy but you’ll be able to determine if TaxJar is what you need today.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar? Is TaxJar A Csp
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting system is compatible with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. This means that there is no need to gather information from multiple sources and organize it into a single platform. All you need to do is connect TaxJar then the system will take care of all the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. In this review, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income The team will guide you on how to handle them. But, it is up to you and your team members to complete the process on time. TaxJar will only guide you 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 won’t need to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating taxes on sales to recording and processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using 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, as well as data.
The best part about this feature is that it allows you to update your account automatically each day. Not only can they help you know how much you’ve collected, but they also help you determine when your next payments are due.
Their dashboard also allows you to fully view the overall sales taxes in your business. You can also export your data as a CSV file if you need 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. It means you don’t need to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount 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 costs.
What’s more is that TaxJar offers tutorials and training not only on their platform, but for anything related to sales tax. You can look through their webinars, guides, and blog for more info. In addition the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a smaller business owner, this plan could be perfect for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking for something a bit more than just the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher if you add custom features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge business, you might need to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of members, and AutoFiles.
They also have a team dedicated in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. Is TaxJar A Csp
However, they did say that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require for your company.
Luckily, you don’t have to gamble your money just to find out if the platform is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see whether the software is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- 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 to USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you must try TaxJar.
Not only will it help you track your revenue and products It can assist you in meeting the deadlines you set. It is also a great option for accountants as they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this can definitely help you get your mind around it. Is TaxJar A Csp
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Is TaxJar A Csp
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in US$. If you’re using a different currency, you will need to convert it to USUSD prior to when TaxJar can calculate your tax.