Taxes are always one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to hire an accountant, performing the task on yourself can be dangerous. If you miss one detail it could mean you have to do it all over again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can help you. While this is lengthy but you’ll be able to determine if TaxJar is the tool you require in the present.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? Remove State From TaxJar Dashboard
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure you have a tax accounting platform perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your key metrics in one place. This means that there is no need to collect information from multiple sources and then organize it on a single platform. All you have to do is integrate TaxJar, it will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns The team will guide you on managing them. But, it is up for you and your staff to complete the process on time. TaxJar is only there to provide guidance on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales taxes in order to record and process them. However, there might be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to all the information you need, such as the list of transactions, reports, and information.
The most appealing aspect of this feature is that it allows you to automatically update every day. They not only let you keep track of how much you’ve earned, but they also help you determine when your next payments are due.
Their dashboard also allows you to see the sales tax totals for your business. Additionally, you can export the data as the form of a CSV file if you need it for your accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more information. Apart from that the sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller company manager, the plan could be perfect for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking to get a bit more than just the basics Professional may be the best option for you. The price starts at $99 but you can increase it by adding custom features.
So how different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive business, you might need to choose premium plans instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. Remove State From TaxJar Dashboard
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a break. To sum it all up, here are the advantages and disadvantages of using TaxJar for your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track 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 valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you should try this.
Not only can it aid in tracking your revenue and products It can help you meet your deadlines. This is also an excellent opportunity for accountants since they have tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar can help you save more time while keeping track of every deadline and obligation you have to fulfill. If you’re in a place with complicated tax regulations, this will definitely help you get your head around it. Remove State From TaxJar Dashboard
However, if managing your taxes is simple, then TaxJar may be an unnecessary investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ Remove State From TaxJar Dashboard
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 incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions are in US$. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar can calculate the tax.
