Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have enough money to employ an accountant, doing it on yourself can be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement, we have no choice.
So what can we do about it?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Even though this is a long read it is possible to assess 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, we’ll dive right into.
What is TaxJar? Pitchbook TaxJar 179Mlundentechcrunch
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting system is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your key data in one location. So, there’s no requirement to collect data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar, and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns The team will guide you on how to handle these. However, it will be up to you and your team members to finish the tax returns on time. TaxJar will only help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team will have access to all the information you need, such as an inventory of your transactions, reports and information.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only will they let to know the amount you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard can also allow you to fully view the sales tax totals within your company. Additionally, you can export the data to a CSV file if you need it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your money more efficiently. You’ll know exactly how much budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training, not just for their platform but everything that has to do with sales tax. You can look through their webinars, guides or blog posts for additional information. In addition the sales tax calculator is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the best plan if you need help with filing requirements and reporting. It comes with taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale company owner, this plan will be perfect for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking for different from the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher if you add custom features.
How different is it from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to opt for an upgrade instead. It comes with all the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations API integrationsfor team users and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the price of the Premium plan. will cost you. Pitchbook TaxJar 179Mlundentechcrunch
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for your business.
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to see if the platform is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your company.
- 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
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business, but it can also help you meet your deadlines. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in a place with complicated tax regulations, this will surely help you wrap your head around the subject. Pitchbook TaxJar 179Mlundentechcrunch
However, if managing your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure simple to follow then you’re better in doing it all on your own.
FAQ Pitchbook TaxJar 179Mlundentechcrunch
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect 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 type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to US$ before TaxJar determines the tax.