Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford enough money to engage an accountant doing it on yourself can be dangerous. If you miss one detail, you might have to redo things again!
Almost everyone wants to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can assist you. While this is lengthy, you should be able to gauge whether TaxJar is what you need in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar? Kj Tax
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to show your critical metrics in one place. So, there’s no requirement to collect information from multiple sources and then organize it on one platform. All you have to do is integrate TaxJar, and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. In this review, we’ll dig 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 filing tax returns for income TaxJar will train you on how to manage these. However, it will be up to you and your team to finish the tax returns within the timeframe. TaxJar is there to guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing it. There could be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports, and data.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. Not only will they let to know the amount you’ve accumulated however, they can also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes within your company. It is also possible to export the information in CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even even if you already have an accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have available for other operational costs.
What’s more is that TaxJar offers training and tutorials not only for their platform but all things that has to do with sales tax. You can look through their webinars, guides, and blog for more details. In addition their sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you to help you with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale company manager, the plan could be ideal for you. It may not offer all of TaxJar’s features but it comes with all the basics you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking for that is more than the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
How different is it from the starter plan?
In addition to having access to each of Starter plan’s features, you also have their phone customer support, API access, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to go for the Premium plan instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of users, and AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge the amount that the Premium plan will cost you. Kj Tax
But they did state that the plan is custom-made for every user. The cost of the plan will be different according to what you require for your business.
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to see if the platform 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 breather. To summarize we’ll go over the advantages and disadvantages of using TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to 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 down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you ought to try this.
It’s not just a way to help you track your products and revenue however, it will assist you in meeting the deadlines you set. This is also an excellent option for accountants as they have the Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep on top of each deadline and obligation you have to meet. If you live in an area with complex tax laws, this will certainly help you to get your mind around it. Kj Tax
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 channels of sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
FAQ Kj Tax
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar can calculate the tax.