Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the funds to employ an accountant, making it your own can be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. But , as it’s a requirement, we have no choice.
What can we do about it?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Even though this is an extensive read it is possible to determine if TaxJar is the tool you require in the present.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What is TaxJar? Question At TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been 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 extensively used by online business owners to ensure that everything is organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check is your tax-reporting system perfectly integrates along with sales funnels. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your key data in one location. This means that there is no need to collect information from multiple sources and then organize it on 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 to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns TaxJar will train you on how to handle the tax returns. It is up to you and your staff to complete the process on time. TaxJar will only provide guidance on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales tax to recording and processing it. But, it is possible to incur extra fees if not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help 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 everything you need, such as a list of your transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update automatically every day. They not only let to know the amount you’ve accumulated, but they also help you track when your following payments are due.
The dashboard allows you to fully view the sales tax totals for your business. You can also export the data in a CSV file if you need it for your accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have available for other operating costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but all things that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more information. Apart from that, their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help in filing and reporting. It includes the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking for a bit more than just the basic features Professional could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have their phone customer support, API access, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to opt for the Premium plan instead. It has all of the features needed to make your tax filing easier. Moreover, they allow unlimited import integrations of data as well as API integrations, team members as well as AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. Question At TaxJar
However, they did say that this plan is tailor-fit to each 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 determine if this service is the right one for you. If you’re still considering different options, they offer a 30-day free trial. It should give you enough time to determine if the platform is an excellent fit for you.
Pros and Cons
We’ve covered everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- 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 valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only can it help you track your revenue and products It can also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to meet. If you live in an area with complex tax regulations, this will definitely help you get your mind around it. Question At TaxJar
But if handling your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure easy to complete then you’re better in doing it all on your own.
FAQ Question At 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 incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar determines the tax.