Taxes have always been one of the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have the funds to engage an accountant making it your own could be dangerous. If you make a mistake it could mean you have to do it all over again!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving device and how it can help you. While this is lengthy, you should be able to gauge whether TaxJar is what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar? Pay States Annually Instead Of Monthly TaxJar
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with sales taxes. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s look into their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax platform is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to gather information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar, then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. In our review we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing tax returns for income, the team will instruct you on managing these. However, it will be up for you and your staff to complete the process in time. TaxJar will only guide you on what you have to 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 any forms manually. Through this feature, everything will be automated from calculating sales taxes to recording and processing them. But, it is possible to incur additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there, you and your team will have access to all the information you need, such as a list of your transactions, reports and data.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to fully view the overall sales taxes in your business. You can also export the data to the form of a CSV file if you need it in your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures 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 operating costs.
The best part is that TaxJar provides training and tutorials not only on their platform, but all things connected to sales tax. You can check out their webinars, guides, and blog for more details. In addition the 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. Some platforms provide amazing capabilities, but they’re often 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 these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small company manager, the plan could be perfect for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for different from the basics, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up if you add custom features.
What is the difference from the basic plan?
In addition to accessing all of the Starter plan’s options, you also have 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 receive 12 free AutoFiles every year.
Premium
If you run a large company, you may need to go for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team users and AutoFiles.
There is also a team dedicated to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. Pay States Annually Instead Of Monthly TaxJar
However, they did say that this plan is customized to each user. Therefore, the cost will differ according to what you require for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to determine if this service is for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to see whether the software is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a break. To sum it all up Here are the pros and cons of using TaxJar for your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online 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 be able to access the API feature
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue however, it will also help you meet your deadlines. It is also a great platform for an accountant since they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to fulfill. If you live in an area with complex tax regulations, this will surely help you wrap your mind around it. Pay States Annually Instead Of Monthly TaxJar
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ Pay States Annually Instead Of Monthly TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to US$ before TaxJar determines the tax.
