Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to hire an accountant, doing it on yourself can be risky. If you miss one detail, you might need to repeat the process!
Most people want to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can assist you. Even though this is a long read it is possible to determine if TaxJar is what you need today.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? Jennifer Navarez TaxJar Linkedin
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting platform seamlessly works well with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your most important data in one location. So, there’s no need to collect data in multiple channels and sort it into one platform. All you need to do is connect TaxJar then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. In the purpose of this article, we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns TaxJar will train you on managing them. But, it is up for you and your team to finish the tax returns within the timeframe. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. Through this feature, everything will be automated from calculating sales tax in order to record and process them. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. The orders you place through your online channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you require, including the list of transactions, reports and information.
The best part about this option is the fact that they allow you to update automatically every day. Not only will they let to know the amount you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard can also allow you to see the overall sales taxes in your business. It is also possible to export the information to the form of a CSV file if you need it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. It means you don’t need to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll be aware of the budget you have for other operational costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but all things connected to sales tax. You can look through their webinars, guides as well as their blog to find more info. Additionally the sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller company owner, this plan could be ideal for you. It might not include all the features of TaxJar, but it has the basic features you require.
Additionally, you can contact their support team with 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 might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
So how different is it from the basic 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, phone support, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to choose the Premium plan instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations, API integrations, team users as well as AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. Jennifer Navarez TaxJar Linkedin
However, they did mention that this plan is customized to each user. So the costs will vary depending on what you need to run your business.
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a break. To sum it all up, here are the pros and cons 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 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 is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it assist you in keeping track of your revenue and products however, it will also help you meet your deadlines. It is also a great opportunity for accountants since they provide tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around the subject. Jennifer Navarez TaxJar Linkedin
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Jennifer Navarez TaxJar Linkedin
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 integrate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars before TaxJar can calculate the tax.