Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. If you don’t have enough money to engage an accountant making it your own could be risky. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do about it?
It is always possible to simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can help you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? Pre-Launch Code Review TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it in all of your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to keep everything neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting system perfectly integrates along with sales funnels. If you’re selling through multiple channels, you must 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 key data in one location. That way, there’s no need to gather information from multiple sources and then organize it on a single platform. All you have to do is to integrate TaxJar then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. In our review we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on managing these. However, it will be up to you and your staff to complete the process on time. TaxJar is only there to provide guidance on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. Through this feature, everything will be automated, from calculating sales tax in order to record and process it. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, like an inventory of your transactions, reports, as well as data.
The greatest benefit of this option is the fact that they allow you to update your account automatically each day. They not only let to know the amount you’ve earned however, they can also help you track when your following payment is due.
Their dashboard can also allow you to fully view the total sales tax within your company. You can also export the data to the form of a CSV file in case you require it to aid in financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even if you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything related to sales tax. Check out their webinars, guides, or blog posts for additional info. In addition their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan if you need help in filing and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a smaller business manager, the plan will be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something a bit more than just the standard features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s options, you also have access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to go for an upgrade instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports as well as API integrations, team users and AutoFiles.
There is also a team that is devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. Pre-Launch Code Review TaxJar
But they did state that this plan is customized to each user. So the costs will vary according to what you require for your company.
Fortunately, you don’t need to gamble your money just to determine if this service is right for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to gauge whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of the use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by 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 down, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you should try this.
Not only can it aid in tracking your products and revenue however, it will assist you in meeting the deadlines you set. This is also an excellent option for accountants as they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your mind around it. Pre-Launch Code Review TaxJar
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole process easy to do then you’re better off doing it on your own.
FAQ Pre-Launch Code Review TaxJar
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to US$ before TaxJar can calculate the tax.