Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. 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, doing it on your own could be dangerous. If you overlook one thing it could mean you need to repeat the process!
Most people want to skipping this step. But since it’s required to be done, we can’t choose not to.
What is the best way to deal with it?
We can make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can assist you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What exactly is TaxJar? Reviews Of TaxJar
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is 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 your sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to make their business more organized and straightforward. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to gather information from multiple sources and organize it into a single platform. All you have to do is integrate TaxJar and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using their AutoFile feature. For this review, we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on managing these. However, it will be up to you and your team members to finish the tax returns on time. TaxJar is there to help you understand what you need to do but not handle it.
If you would 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 taxes through recording, and then processing it. However, there might be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your staff can access everything you need, such as an inventory of your transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update automatically every day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows users to view in detail the total sales tax for your business. You can also export your data as a CSV file, if you want to use it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accountant, this function can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything that has to do with sales tax. You can look through their guides, webinars, or blog posts for additional info. Apart from that, their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of those options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small business owner, this plan should be perfect for you. It might not include all the features offered by TaxJar, but it has all the basics you require.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for something different from the basic features Professional might be the right one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to their support via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to choose premium plans instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of members as well as AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal the price of the Premium plan. will cost you. Reviews Of TaxJar
But they did state that the plan is custom-made for every user. So the costs will vary in line with what you require for your business.
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to determine whether the service is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- There is the 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 simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that’s what you do, then you must try TaxJar.
Not only can it assist you in keeping track of your products and revenue however, it will assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they provide tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar will help you save more time while keeping on top of each deadline and requirement you have to meet. If you live in a region with a lot of tax laws, this can surely help you wrap your head around the subject. Reviews Of TaxJar
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Reviews Of TaxJar
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like 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 with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar determines your tax.