Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford the funds to hire an accountant, making it your own can be risky. If you miss one detail and you don’t know it, you may have to do it all over 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 is the best way to deal with it?
We can simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. Although this is quite a long read, you should be able to assess whether TaxJar is the tool you require in the present.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar? Promotional Coupon TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to keep everything neat and simple. Let’s explore their features and services.
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Features and services
Integration
One of the most important things you’ll need to make sure you have a tax accounting platform perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. So, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar, and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar allows customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to manage the tax returns. But, it is up to you and your team to complete the process within the timeframe. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your team will have access to everything you require, including an inventory of your transactions, reports and data.
The greatest benefit of this option is the fact that it allows you to automatically update every day. Not only can they help to know the amount you’ve earned, but they also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. It is also possible to export the information as a CSV file if you need it for your financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also all things that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more info. In addition, their sales tax calculator can be helpful if you’re planning on 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 features, but they’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small company proprietor, then this program should be perfect for you. It might not include all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach their customer support via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get different from the basics, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It has all of the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
There is also a team dedicated to managing your account. They don’t reveal the price of the Premium plan. costs you. Promotional Coupon TaxJar
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your business.
Free Trial
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to see if the platform 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 summarize we’ll go over the advantages and disadvantages of using TaxJar for your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- It allows you to monitor multiple 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 to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only can it aid in tracking the sales and profits of your business, but it can help you meet your deadlines. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Using TaxJar will help you reduce time and keep the track of each deadline and obligation you have to meet. If you live in a region with a lot of tax regulations, this will definitely help you get your head around it. Promotional Coupon TaxJar
But if handling taxes is easy, then TaxJar may be an unnecessary expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure easy to complete then you’re better to do it on your own.
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FAQ Promotional Coupon TaxJar
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar can calculate your tax.
