Taxes have always been one of the hardest things to do regardless of whether you’re running a business or not. More so if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have enough money to hire an accountant, making it your own could be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can benefit you. While this is a long read it is possible to assess whether TaxJar is the tool you require in the present.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What is TaxJar Is TaxJar Easy To Use?
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it in all of your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is your tax-reporting software is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical data in one location. So, there’s no requirement to collect data from different channels and sort it into a single platform. All you have to do is connect TaxJar and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. In our review we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns TaxJar will train you on managing these. However, it will be up for you and your team to complete the process on time. TaxJar is there to help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes 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 we mentioned it is possible to use TaxJar to assist you with your accounting problems. Your orders from your e-commerce 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, such as an inventory of your transactions, reports, as well as information.
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 earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to see the sales tax totals in your business. Additionally, you can export the information as the form of a CSV file in case you require it to aid in accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have for other operating costs.
What’s more 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 details. Apart from that, their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the best plan if you need help in filing and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small-scale business manager, the plan will be ideal for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the standard features, then the Professional plan may be the best option for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to choose premium plans instead. It comes with all the features that you require to help with your taxes. Moreover, they allow unlimited import integrations of data API integrations, team members as well as AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal how much the Premium plan is going to cost. Is TaxJar Easy To Use?
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to gauge whether the software is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax 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
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to help you track your products and revenue, but it can also help you meet your deadlines. It’s also an excellent platform for an accountant since they offer tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax laws, this can surely help you wrap your head around it. Is TaxJar Easy To Use?
But if handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure simple to follow, you might be better to do it by yourself.
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FAQ Is TaxJar Easy To Use?
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate 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 kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar determines the tax.
