Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to employ an accountant, doing it on your own can be risky. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to skip this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can assist you. While this is a long read but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? Is TaxJar Good
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that require days to complete and finish within just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting system perfectly integrates with your sales channel. If you have multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your key data in one location. So, there’s no need to collect data from different channels and then organize it on a single platform. All you have to do is to integrate TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers make sales tax filings manually or through their AutoFile feature. For this review, we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns The team will guide you on managing them. It is up to you and your staff to complete everything on time. TaxJar is only there to help you understand what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating sales taxes to recording and processing them. But, it is possible to incur extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there you and your staff will have access to all the information you require, including a list of your transactions, reports, and information.
The most appealing aspect of this feature is that it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax for your business. You can also export the information to the form of a CSV file if you need it in your accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. It means you don’t need to scramble for your documents when you’re in the event of a need. 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 more effectively. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things related to sales tax. You can check out their guides, webinars, or blog posts for additional information. Apart from that their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes the tax on sales, four free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller company manager, the plan will be perfect for you. It may not have all the features of TaxJar however, it does include the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also be able to use their integration features.
If you’re looking for a bit more than just the standard features Professional may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to go for the Premium plan instead. It has all of the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff dedicated to managing your account. They don’t reveal the price of the Premium plan. will cost you. Is TaxJar Good
However, they did mention that this plan is tailor-fit for each user. So the costs will vary according to what you require for your business.
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to see whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of using TaxJar for 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 Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- 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
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If this sounds like the way you do, then you ought to try this.
Not only can it assist you in keeping track of your products and revenue, but it can also help you meet the deadlines you set. This is also an excellent option for accountants as they have a Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can help you reduce time and keep the track of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this can definitely help you get your mind around it. Is TaxJar Good
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do then you’re better in doing it all on your own.
FAQ Is TaxJar Good
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar will calculate the tax.