Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the budget to employ an accountant, making it your own could be risky. If you overlook one thing, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
We can always simplify our lives with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can benefit you. Even though this is lengthy but you’ll be able to determine if TaxJar is exactly what you need today.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? Partner With TaxJar
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your sales channels to ensure compliance with your sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of 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 used extensively by online business owners to make their business more organized and straightforward. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll want to check you have a tax accounting system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must ensure that everything is in order. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to display your most important data in one location. That way, there’s no requirement to collect information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns The team will guide you on how to handle the tax returns. But, it is up for you and your team members to complete the process on time. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything will be automated from calculating taxes on sales in order to record and process it. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you need, like a list of your transactions, reports, and the data.
The most appealing aspect of this option is the fact that it allows you to automatically update every day. Not only can they help you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals within your company. It is also possible to export the data to CSV format. CSV file in case you require it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even when you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds better. You’ll be aware of the budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training, not just on their platform, but for anything connected to sales tax. You can check out their webinars, guides and blog for more details. In addition the sales tax calculator should be 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 set your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program should be ideal for you. It may not offer all of TaxJar’s features, but it has all the basics you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get a bit more than just the standard features, then the Professional plan could be the one for you. The price starts at $99 but it can go higher when you add additional features.
How different is it 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 sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive company, you may need to go for premium plans instead. It includes all of the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations, API integrationsfor team users as well as AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan costs you. Partner With TaxJar
But they did state that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need for your company.
Free Trial
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to see whether the software is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it aid in tracking your revenue and products It can help you meet your deadlines. It is also a great opportunity for accountants since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and requirement you have to meet. If you’re in an area with complex tax laws, this can surely help you wrap your head around it. Partner With TaxJar
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure easy to complete then you’re better to do it on your own.
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FAQ Partner With TaxJar
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar determines the tax.
