Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have the funds to engage an accountant performing the task on yourself can be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required, we have no choice.
What can we do ?
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 benefit you. Even though this is a long read, you should be able to determine if TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What is TaxJar Lizzzi Greenberg TaxJar
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting software perfectly integrates in conjunction with the sales channels you use. 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 missing a single minor point.
TaxJar allows you to display your key metrics in one spot. So, there’s no requirement to collect data from different channels and organize it into one platform. All you need to do is integrate TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. For our review we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect all your sales platforms. When it comes time to filing tax returns for income, the team will instruct you on how to handle these. It is up to you and your team to finish the tax returns in time. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need 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. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team will have access to everything you require, including a list of your transactions, reports, as well as information.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. They not only let you keep track of how much you’ve collected, but they also help you determine when your next payment is due.
The dashboard allows users to view in detail the total sales tax for your business. You can also export your data in the form of a CSV file if you need it in your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even if you already have your 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 more effectively. You’ll be aware of the budget you have to cover other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform but all things that has to do with sales tax. Check out their guides, webinars, or blog posts for additional info. Apart from that, 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 determine your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan if you need help in filing and reporting. It comes with sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small company manager, the plan will be ideal for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for a bit more than just the standard features and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up when you add additional features.
How different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large business, you might need to go for premium plans instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of users, and AutoFiles.
There is also a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan costs you. Lizzzi Greenberg TaxJar
However, they did mention that this plan is customized for every user. Therefore, the cost will differ depending on what you need for your company.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of making use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- It allows you to monitor 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 valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that sounds like what you do, 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 the deadlines you set. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you save more time while keeping the track of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax laws, this will surely help you wrap your mind around it. Lizzzi Greenberg TaxJar
But if handling your taxes is straightforward, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Lizzzi Greenberg 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.
Can I incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar will calculate the tax.