Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have enough money to engage an accountant doing it on yourself can be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
What is the best way to deal with it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. While this is an extensive read, you should be able to assess whether TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? Is TaxJar Free With Squarespace
The company was founded in 2013 TaxJar is an application that automatizes 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 your sales channels to ensure compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your key metrics in one place. This means that there is no need to collect data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. For the purpose of this article, we’ll dig into both.
If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns TaxJar will train you on how to manage them. It is up to you and your staff to finish the tax returns in time. TaxJar is there to provide guidance on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there, you and your team will have access to everything you need, such as a list of your transactions, reports and data.
The best part about the feature you’ve chosen is they allow you to automatically update every day. Not only can they help you know how much you’ve accumulated, but they also help you keep track of when the next payment is due.
The dashboard allows you to see the overall sales taxes for your business. You can also export the information to a CSV file, if you want to use it in your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even when you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds better. You’ll be aware of the budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials not only for their platform , but also everything that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more details. Additionally, their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a smaller business manager, the plan will be ideal for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something different from the standard features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to go for premium plans instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports API integrations, team members, and AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose how much the Premium plan is going to cost. Is TaxJar Free With Squarespace
But they did state that this plan is tailor-fit to each user. So the costs will vary in line with what you require for your business.
Fortunately, you don’t need to gamble your money just to determine if this service is right for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to see if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- Allows you to track multiple 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 to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it assist you in keeping track of your products and revenue however, it will help you meet the deadlines you set. This is also an excellent opportunity for accountants since they have tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around the subject. Is TaxJar Free With Squarespace
If handling taxes is easy, then TaxJar might not be a good investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure easy to complete, you might be better to do it on your own.
FAQ Is TaxJar Free With Squarespace
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar determines your tax.