Taxes have always been one of the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. If you don’t have the funds to engage an accountant making it your own can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do ?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. Even though this is a long read, you should be able to gauge whether TaxJar is what you need in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? New Product Introduction TaxJar
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your most important data in one location. This means that there is no need to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on managing them. But, it is up for you and your staff to finish the tax returns on time. TaxJar is only there to provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process it. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you need, like a list of your transactions, reports and the data.
The most appealing aspect of this feature is that it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows users to view in detail the total sales tax for your business. You can also export the information in a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also for anything connected to sales tax. Check out their webinars, guides, and blog for more information. In addition their sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business proprietor, then this program could be ideal for you. It may not have all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking for something different from the standard features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you own a huge business, you might need to go for premium plans instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations API integrations, team users, and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. is going to cost. New Product Introduction TaxJar
But they did state that this plan is customized to each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine whether the software is the right choice for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
Pros
- 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.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue, but it can assist you in meeting the deadlines you set. This is also an excellent option for accountants as they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you live in an area with complex tax laws, this can surely help you wrap your head around the subject. New Product Introduction TaxJar
If handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure simple to follow then you’re better to do it on your own.
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FAQ New Product Introduction TaxJar
Which areas does TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar will calculate your tax.
