Taxes have always been among the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have enough money to employ an accountant, doing it on yourself can be risky. If you overlook one thing, you might have to redo things again!
Most people want to skipping this step. However, since it’s mandatory 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.
Here we’ll take a look at this life-saving device and how it can benefit you. Even though this is a long read, you should be able to gauge whether TaxJar is what you need right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? Multiple Online Stores TaxJar Stripe
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of the sales channels you use to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s explore their features and services.
Services and features
One of the first things you’ll need to ensure you have a tax accounting software perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. So, there’s no need to gather data in multiple channels and then organize it on one platform. All you have to do is to integrate TaxJar and the platform will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to make sales tax filings manually or through their AutoFile feature. For our review we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. When it comes time to the filing of income tax returns TaxJar will train you on how to manage these. It is up for you and your team to complete everything on time. TaxJar is only there to provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. This feature will ensure that everything will be automated from calculating sales tax through recording, and then processing them. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there, you and your team will have access to everything you require, including an inventory of your transactions, reports, and data.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows users to view in detail the total sales tax in your business. You can also export the information in CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them in the event of a need. Even when you already have your accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have to cover other operational expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform , but also everything that has to do with sales tax. Check out their webinars, guides, or blog posts for additional info. In addition the sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small company owner, this plan could be ideal for you. It may not offer all of TaxJar’s features, but it has all the basics you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for something different from the standard features Professional could be the one for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to choose an upgrade instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrationsfor team members as well as AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan costs you. Multiple Online Stores TaxJar Stripe
However, they did say that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require to run your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for 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.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only can it aid in tracking your revenue and products however, it will help you meet your deadlines. It’s also an excellent option for accountants as they have tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline and requirement you have to meet. If you live in a region with a lot of tax laws, this can surely help you wrap your mind around it. Multiple Online Stores TaxJar Stripe
However, if managing your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire process easy to do, you might be better to do it on your own.
FAQ Multiple Online Stores TaxJar Stripe
What areas does TaxJar offer API support?
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 link your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you’ll have to convert it to USUSD before TaxJar can calculate your tax.