Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. If you don’t have enough money to employ an accountant, doing it on your own can be dangerous. If you miss one detail, you might need to repeat the process!
Almost everyone wants to avoid 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?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can help you. Although this is quite an extensive read, you should be able to determine if TaxJar is what you need today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? Is TaxJar And Smartcalcs The Same
The company was founded in 2013 TaxJar is an application that automatizes 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 channels of sales to make sure you’re in compliance with sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure is that your accounting tax software perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar lets you display your most important data in one location. That way, there’s no need to gather data in multiple channels and organize it into a single platform. All you need to do is to integrate TaxJar and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to submit their sales tax either manually or via their AutoFile feature. For our review we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns TaxJar will train you on how to manage these. However, it will be up to you and your staff to complete everything within the timeframe. TaxJar is only there to provide guidance on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. This feature will ensure that everything is automated, from calculating sales tax to recording and processing them. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything 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 your account automatically each day. Not only can they help you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow you to see the overall sales taxes for your business. It is also possible to export the information to the form of a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform but all things related to sales tax. Check out their webinars, guides, or blog posts for additional info. In addition their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. This is why in this section, 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 say it’s the most effective plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small business proprietor, then this program should be ideal for you. It might not include all the features of TaxJar, but it has the basic features you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get different from the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large company, you may 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 as well as Integrations with APIs, teams of members and AutoFiles.
They also have a team dedicated for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. Is TaxJar And Smartcalcs The Same
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ in line with what you require for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of the use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes many platforms. If this sounds like the way you do, then you ought to try this.
It’s not just a way to help you track the sales and profits of your business It can help you meet your deadlines. This is also an excellent platform for an accountant since they offer tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you’re in a region with a lot of tax laws, this can definitely help you get your mind around it. Is TaxJar And Smartcalcs The Same
However, if managing your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Is TaxJar And Smartcalcs The Same
What areas does TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar determines your tax.