Taxes are always one of the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have enough money to hire an accountant, performing the task on your own can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Almost everyone wants to skipping this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can assist you. Even though this is a long read it is possible to determine if TaxJar is what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar Jim Scheele TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax platform perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. So, there’s no need to collect data in multiple channels and organize it into a single platform. All you need to do is integrate TaxJar, and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. In our review we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income TaxJar will train you on how to manage them. It is up to you and your team to finish the tax returns in time. TaxJar is there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing it. But, it is possible to incur additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, such as an inventory of your transactions, reports and data.
The greatest benefit of this feature is that it lets you to update automatically every day. Not only can they help to know the amount you’ve accumulated however, they can also help you determine when your next payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export the data as the form of a CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even if you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have for other operational expenses.
The best part is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything related to sales tax. You can check out their webinars, guides or blog posts for additional info. In addition, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you to help you with filing requirements and reporting. It includes the tax on sales, four annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a smaller company proprietor, then this program will be ideal for you. It might not include all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basic features Professional could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the original plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to go for premium plans instead. It includes all of the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users and AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose how much the Premium plan is going to cost. Jim Scheele TaxJar
However, they did say that this plan is tailor-fit for each user. So the costs will vary according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to gauge whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of the use of 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 an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can 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
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to help you track the sales and profits of your business, but it can help you meet your deadlines. It is also a great platform for an accountant since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you reduce time and keep track of every deadline or requirement you need to fulfill. If you live in a region with a lot of tax regulations, this will certainly help you to get your mind around it. Jim Scheele TaxJar
But if handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do, you might be better in doing it all by yourself.
FAQ Jim Scheele TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind 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 determines your tax.