Taxes have always been one of the hardest things to do regardless of whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. If you don’t have enough money to engage an accountant doing it on your own could be risky. If you miss one detail, you might need to repeat the process!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What is the best way to deal with it?
It is always possible to simplify our lives with tools such as TaxJar.
We’ll look at this life-saving tool and explain how it can help you. Even though this is an extensive read but you’ll be able to assess whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What is TaxJar? Life At TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting platform seamlessly works well with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no requirement to collect data from different channels and organize it into a single platform. All you need to do is integrate TaxJar, it will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. For this review, we’ll dig at 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 the filing of income tax returns The team will guide you on how to handle these. It is up for you and your team to finish the tax returns on time. TaxJar is there to provide guidance on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything will be automated from calculating taxes on sales in order to record and process them. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, like the list of transactions, reports and data.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to see the overall sales taxes for 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 requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accountant, this function can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but everything connected to sales tax. Check out their guides, webinars, and blog for more info. Additionally, their sales tax calculator should be useful if 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. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. 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 most effective plan to help you in filing 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 will be able to access their AI tax tips.
If you’re a small-scale business proprietor, then this program should be ideal for you. It might not include all the features of TaxJar but it comes with the essentials that you need.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for premium plans instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports, API integrations, team users as well as AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. Life At TaxJar
However, they did say that this plan is customized for each user. Therefore, the cost will differ according to what you require for your business.
Luckily, you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to see if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. To sum it all up, here are the pros and cons of the use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to help you track your revenue and products, but it can also help you meet the deadlines you set. It is also a great platform for an accountant since they provide tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you save more time while keeping track of every deadline and obligation you have to fulfill. If you live in a place with complicated tax regulations, this will definitely help you get your mind around it. Life At TaxJar
If handling taxes is easy, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole process easy to do and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Life At TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into USUSD before TaxJar will calculate the tax.