Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the budget to employ an accountant, performing the task on your own can be risky. If you make a mistake, you might need to repeat the process!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this popular life-saving device and how it can benefit you. Even though this is an extensive read, you should be able to determine if TaxJar is the tool you require in the present.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar Is TaxJar And Smartcalculus The Same Thing
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting software is compatible with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. So, there’s no requirement to collect information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar it will take care of 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 clients to submit their sales tax manually or through TaxJar’s AutoFile feature. In our review we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns, the team will instruct you on how to handle these. But, it is up for you and your team members to finish the tax returns on time. TaxJar is there to guide you on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales taxes to recording and processing them. However, there might be additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team will have access to all the information you require, including an inventory of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only will they let to know the amount you’ve earned however, they can also help you keep track of when the next payments are due.
The dashboard allows you to fully view the sales tax totals for your business. It is also possible to export the information to CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operational costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything related to sales tax. You can check out their guides, webinars, and blog for more details. Additionally the sales tax calculator should be helpful if you’re planning on 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’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small-scale business proprietor, then this program should be ideal for you. It might not include all the features offered by TaxJar, but it has the essentials that you need.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for something different from the standard features, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to opt for premium plans instead. It has all of the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as Integrations with APIs, teams of users and AutoFiles.
They also have a team who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan costs you. Is TaxJar And Smartcalculus The Same Thing
But they did state that this plan is customized for each user. The cost of the plan will be different in line with what you require to run your business.
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor 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 valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue It can help you meet the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar can help you save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your head around it. Is TaxJar And Smartcalculus The Same Thing
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow, you might be better to do it on your own.
FAQ Is TaxJar And Smartcalculus The Same Thing
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions are in USdollars. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar determines your tax.