Taxes have always been one of the hardest things to do regardless of whether you run a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford enough money to hire an accountant, performing the task on your own can be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can benefit you. Although this is quite a long read, you should be able to assess whether TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar Sales Tax Calculator TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. 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 is compatible along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to show your critical metrics in one spot. That way, there’s no requirement to collect data from different channels and then organize it on one platform. All you have to do is to integrate TaxJar, and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. For our review we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns TaxJar will train you on managing these. However, it will be up to you and your staff to complete the process on time. TaxJar is only there to provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff can access everything you need, like a list of your transactions, reports and data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. Additionally, you can export your data in CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accountant, this function can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much budget you have available for other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but for anything connected to sales tax. Check out their webinars, guides as well as their blog to find more details. Additionally the sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for your business. For this reason we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small business manager, the plan should be ideal for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for a bit more than just the standard features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it by adding custom features.
What is the difference from the basic plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to opt for an upgrade instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited data import integrations API integrationsfor team users, and AutoFiles.
They also have a team that is devoted for managing the account. But, they don’t divulge the price of the Premium plan. is going to cost. Sales Tax Calculator TaxJar
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 for your company.
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to gauge whether the software is a good fit for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of using TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it help you track your products and revenue It can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they provide a 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 track of every deadline and obligation you have to meet. If you live in an area with complex tax regulations, this will certainly help you to get your mind around it. Sales Tax Calculator TaxJar
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ Sales Tax Calculator TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar can calculate the tax.