Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to employ an accountant, performing the task on your own could be dangerous. If you overlook one thing it could mean you have to do it all over again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
So , what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can benefit you. While this is a long read, you should be able to assess whether TaxJar is the tool you require today.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? Safari Snorkel V Spec Vs Armax
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all your sales channels to ensure compliance with sales taxes. It streamlines processes that take days to complete and is completed in just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. Let’s take a look at their features and services.
Services and features
One of the first things you’ll want to check is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your key data in one location. That way, there’s no need to collect information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. In our review we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns TaxJar will train you on managing the tax returns. It is up for you and your team members to finish the tax returns within the timeframe. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales tax in order to record and process it. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online channels can be put together into one dashboard using this platform. Once you’re on the platform, you and your team can access everything you need, like an inventory of your transactions, reports and the data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only can they help to know the amount you’ve earned however, they can also help you track when your following payments are due.
Their dashboard also allows you to fully view the sales tax totals in your business. Additionally, you can export the data in a CSV file, if you want to use it for your accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. It means you don’t need to search for your documents when you need them in the event of a need. Even even if you already have an accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operating costs.
The best part is that TaxJar provides training and tutorials not only for their platform , but also for anything that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more details. In addition their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small company owner, this plan should be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
You can also contact their customer support via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for something a bit more than just the basics, then the Professional plan could be the one for you. It starts at $99, but you can increase it by adding custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also have their support via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to opt for an upgrade instead. It has all of the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data API integrationsfor team users as well as AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. Safari Snorkel V Spec Vs Armax
However, they did say that this plan is customized to each user. So the costs will vary according to what you require to run your business.
Luckily, you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to see whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you must know about TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of the use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track 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.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it help you track your products and revenue however, it will also help you meet the deadlines you set. It is also a great opportunity for accountants since they have the Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re living in a place with complicated tax laws, this can surely help you wrap your head around the subject. Safari Snorkel V Spec Vs Armax
But if handling taxes is easy, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Safari Snorkel V Spec Vs Armax
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar determines the tax.