Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the funds to engage an accountant making it your own can be risky. If you miss one detail it could mean you have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
What is the best way to deal with it?
We can always simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Although this is quite an extensive read it is possible to gauge whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar? Is TaxJar A Scam
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s 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 sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting platform perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must maintain everything in line. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your critical data in one location. That way, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is to integrate TaxJar then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using the AutoFile feature. In this review, we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns The team will guide you on managing the tax returns. However, it will be up to you and your staff 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 prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined 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, like a list of your transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is it allows you to update automatically every day. They not only let to know the amount you’ve collected however, they can also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. Additionally, you can export your data in a CSV file in case you require it in your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to search for your documents when you need them in a pinch. Even when you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform but for anything related to sales tax. You can check out their guides, webinars, as well as their blog to find more details. In addition their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most suitable plan for you if you need help with filing requirements or reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small business manager, the plan could be perfect for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
You can also contact their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking for that is more than the basics, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
What is the difference from the basic plan?
Apart from having access to all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to choose the Premium plan instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports API integrations, team users as well as AutoFiles.
There is also a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. Is TaxJar A Scam
However, they did mention that the plan is custom-made for every user. So the costs will vary depending on what you need for your company.
Luckily, 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 looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to see whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for 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 multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it help you track your products and revenue It can help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you reduce time and keep track of every deadline and obligation you have to meet. If you’re in an area with complex tax laws, this can surely help you wrap your mind around it. Is TaxJar A Scam
If handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ Is TaxJar A Scam
Which areas does TaxJar provide 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 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 cannot convert currencies. The transactions are in USdollars. If you’re using a different currency, you will need to convert it into USUSD before TaxJar will calculate your tax.