Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. In the event that you do not have the budget to employ an accountant, making it your own can be risky. If you overlook one thing, you might have to do it all over again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
What is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. While this is lengthy, you should be able to determine if TaxJar is exactly what you need right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar Jetpack Workflow Vs TaxJar
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all your channels of sales to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and finish within minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting platform perfectly integrates along with sales funnels. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one spot. This means that there is no need to collect data from different channels and sort it into one platform. All you have to do is to integrate TaxJar, then the system will take care of all the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. In our review we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all of your sales platforms. When it comes time to the filing of income tax returns The team will guide you on how to handle them. But, it is up to you and your staff to complete everything within the timeframe. TaxJar will only guide you on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. This feature will ensure that everything is automated, from calculating taxes on sales through recording, and then processing them. However, there might be extra fees if not included in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. 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, like the list of transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it allows you to update automatically every day. Not only can they help you keep track of how much you’ve earned however, they can also help you track when your following payments are due.
Their dashboard can also allow you to see the total sales tax in your business. You can also export the information in the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to scramble for your documents when you need them in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also everything connected to sales tax. Check out their guides, webinars, as well as their blog to find more information. Additionally, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan to help you in filing and reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller company owner, this plan will be perfect for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get different from the basics and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to opt for premium plans instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited import integrations of data, API integrationsfor team members as well as AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan is going to cost. Jetpack Workflow Vs TaxJar
But they did state that this plan is customized for every user. The cost of the plan will be different depending on what you need for your business.
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize we’ll go over the pros and cons of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to aid in tracking the sales and profits of your business, but it can assist you in meeting your deadlines. It’s also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you reduce time and keep the track of each deadline or requirement you need to fulfill. If you live in a place with complicated tax regulations, this will definitely help you get your head around the subject. Jetpack Workflow Vs TaxJar
However, if managing taxes is easy, then TaxJar could be a waste of investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
FAQ Jetpack Workflow Vs TaxJar
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar will calculate the tax.