Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, performing the task on yourself can be risky. If you overlook one thing it could mean you have to redo things again!
Most people want to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can assist you. While this is an extensive read it is possible to assess whether TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar Rate TaxJar, Taxcloud, Etc
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could take days to complete and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting platform is compatible with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to show your key metrics in one place. This means that there is no need to gather data from different channels and then organize it on one platform. All you need to do is connect TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. For our review we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns TaxJar will train you on managing these. But, it is up to you and your team to complete everything within the timeframe. TaxJar is only there to help you understand what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. This feature will ensure that everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease 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 staff will have access to all the information you require, including the list of transactions, reports, as well as information.
The greatest benefit of the feature you’ve chosen is they allow you to update your account automatically each day. Not only will they let you know how much you’ve collected, but they also help you determine when your next payments are due.
Their dashboard also allows users to view in detail the overall sales taxes within your company. It is also possible to export the information to a CSV file if you need it to aid in process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this function will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform but everything connected to sales tax. You can look through their webinars, guides and blog for more details. In addition the sales tax calculator is helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company manager, the plan could be ideal for you. It might not include all of TaxJar’s features but it comes with all the basics you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for something a bit more than just the basic features, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it if you add custom features.
How different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to opt for the Premium plan instead. It has all of the features you need to aid in your tax preparation. Moreover, they allow unlimited import integrations of data, API integrations, team members, and AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. Rate TaxJar, Taxcloud, Etc
However, they did say that this plan is tailor-fit for every user. Therefore, the cost will differ depending on what you need for your company.
Luckily, you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- 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.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then you should try this.
It’s not just a way to aid in tracking the sales and profits of your business however, it will help you meet the deadlines you set. It is also a great option for accountants as they provide a Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
The use of TaxJar will help you save more time while keeping track of every deadline or requirement you need to meet. If you’re in a place with complicated tax laws, this can definitely help you get your head around it. Rate TaxJar, Taxcloud, Etc
If handling taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Rate TaxJar, Taxcloud, Etc
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar can calculate the tax.