Taxes have always been among the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have a background in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have enough money to employ an accountant, performing the task on your own could be dangerous. If you make a mistake, you might have to redo things again!
Most people want to skipping this step. But since it’s required, we have no choice.
So what can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Although this is quite a long read, you should be able to determine if TaxJar is what you need today.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar Is TaxJar Needed
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure you have a tax accounting platform perfectly integrates along with sales funnels. If you have multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. That way, there’s no need to collect data in multiple channels and organize it into a single platform. All you have to do is connect TaxJar and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. For our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns, the team will instruct you on how to manage the tax returns. It is up for you and your team to finish the tax returns on time. TaxJar is only there to help you understand what you have 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 the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing it. There could be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff can access everything you need, like an inventory of your transactions, reports and data.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve accumulated however, they can also help you track when your following payment is due.
The dashboard allows you to see the total sales tax within your company. Additionally, you can export your data as the form of a CSV file in case you require it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. That means you won’t have to scramble for your documents when you’re in a pinch. Even if you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything connected to sales tax. You can check out their guides, webinars, and blog for more info. Additionally, their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the best plan if you need help with filing requirements and reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small business manager, the plan could be ideal for you. It may not offer all the features of TaxJar however, it does include the basic features you require.
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 a bit more than just the basics Professional may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
What is the difference from the starter plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as the ability to do 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 needed to help with your taxes. In addition, they offer unlimited integrations with data imports API integrationsfor team users, and AutoFiles.
They also have a staff who are devoted to managing your account. They don’t reveal the price of the Premium plan. costs you. Is TaxJar Needed
However, they did mention that this plan is customized for every user. So the costs will vary according to what you require for your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over 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
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you should try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can help you meet your deadlines. It’s also an excellent platform for an accountant since they have tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to meet. If you live in a region with a lot of tax regulations, this will definitely help you get your mind around it. Is TaxJar Needed
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure simple to follow then you’re better off doing it on your own.
FAQ Is TaxJar Needed
What areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar determines the tax.