Taxes have always been one of the most difficult things to handle regardless of whether you run 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 full of things to be done. In the event that you do not have the funds to employ an accountant, performing the task on your own can be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required, we have no choice.
What can we do ?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Even though this is lengthy but you’ll be able to assess 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 provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What is TaxJar? Php TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore their features and services.
Services and features
One of the first things you’ll want to check is that your accounting tax system perfectly integrates along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. That way, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you have to do is connect TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to submit their sales tax manually or through their AutoFile feature. In this review, we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing income tax returns, the team will instruct you on how to manage these. However, it will be up to you and your team to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax in order to record and process them. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to all the information you need, such as the list of transactions, reports, and information.
The greatest benefit of this option is the fact that it allows you to automatically update every day. Not only will they 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 overall sales taxes in your business. You can also export your data as CSV format. CSV file if you need it in your accounting and financial planning processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to scramble for your documents when you need them in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only on their platform, but for anything connected to sales tax. You can check out their webinars, guides or blog posts for additional details. Apart from that, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan should be ideal for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking to get a bit more than just the standard features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large company, you may need to choose the Premium plan instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of users, and AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal how much the Premium plan costs you. Php TaxJar
But they did state that the plan is custom-made 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 for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to determine whether the service is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To summarize we’ll go over the pros and cons of using TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features 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
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then you should try this.
It’s not just a way to aid in tracking your revenue and products It can help you meet your deadlines. This is also an excellent option for accountants as they offer tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this will certainly help you to get your head around it. Php TaxJar
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ Php TaxJar
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar will calculate your tax.