Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. In the event that you do not have enough money to employ an accountant, doing it on your own could be dangerous. If you miss one detail, you might have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do ?
We can make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What is TaxJar? Is TaxJar For Free
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is simple and organized. Let’s take a look at their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting system perfectly integrates along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important metrics in one spot. This means that there is no need to collect data in multiple channels and then organize it on a single platform. All you need to do is to integrate TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes by hand or using the AutoFile feature. For this review, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on how to handle them. But, it is up for you and your staff to complete everything in time. TaxJar will only guide you on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating taxes on sales in order to record and process it. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, like a list of your transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. They not only let you keep track of how much you’ve earned, but they also help you determine when your next payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. You can also export your data as a CSV file if you need it in your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you’re in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform but for anything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more information. Additionally their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most effective plan to help you in filing and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company owner, this plan could be perfect for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get that is more than the basics and options, then the Professional plan might be the right one for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to opt for an upgrade instead. It comes with all the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team members as well as AutoFiles.
They also have a team dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. Is TaxJar For Free
However, they did mention that this plan is tailor-fit to each user. Therefore, the cost will differ according to what you require for your business.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to see whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you need to know about 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 company.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it help you track your revenue and products, but it can also help you meet your deadlines. This is also an excellent option for accountants as they offer tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar can help you get more done while keeping track of every deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this can surely help you wrap your head around it. Is TaxJar For Free
If handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to track everything. If you find the whole process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Is TaxJar For Free
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll need to convert it to US$ before TaxJar determines your tax.