Taxes have always been one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the funds to engage an accountant performing the task on your own could be risky. If you miss one detail, you might have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can benefit you. While this is an extensive read it is possible to gauge whether TaxJar is the tool you require right now.
Prefer to watch videos 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, then let’s dive right in.
What is TaxJar? Price TaxJar Plus
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with your sales taxes. It simplifies the processes that take days to complete and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to maintain everything in line. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. That way, there’s no need to collect information from multiple sources and organize it into a single platform. All you have to do is connect TaxJar, it will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. For our review we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on managing the tax returns. However, it will be up for you and your team members to complete the process on time. TaxJar is only there to guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. Through this feature, everything is automated, from calculating sales tax in order to record and process it. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard via this platform. From there, you and your team can access everything you need, like a list of your transactions, reports and information.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. They not only let you know how much you’ve earned however, they can also help you track when your following payments are due.
The dashboard allows you to fully view the sales tax totals in your business. Additionally, you can export the information to the form of a CSV file if you need it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to search for your documents when you need them in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know better how much budget you have available for other operational expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also everything related to sales tax. Check out their webinars, guides, as well as their blog to find more information. Apart from that, their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the best plan for those who need assistance in filing and reporting. It includes the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small-scale company manager, the plan should be ideal for you. It might not include all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration tools.
If you’re looking to get different from the standard features Professional may be the best option for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the basic plan?
Apart from having access to every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive company, you may need to choose the Premium plan instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports API integrations, team users as well as AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. costs you. Price TaxJar Plus
However, they did mention that this plan is customized for every user. The cost of the plan will be different according to what you require for your business.
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you should be aware of TaxJar Let’s relax. To summarize Here are the pros and cons of making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it help you track the sales and profits of your business however, it will also help you meet the deadlines you set. It is also a great option for accountants as they offer tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar will help you reduce time and keep on top of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this can surely help you wrap your mind around it. Price TaxJar Plus
But if handling your taxes is straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure easy to complete then you’re better in doing it all by yourself.
FAQ Price TaxJar Plus
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar determines your tax.