Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to engage an accountant performing the task on your own can be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
So what is the best way to deal with it?
It is always possible to simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and explain how it can benefit you. Even though this is lengthy, you should be able to assess whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar? Sales TaxJar Saas
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything organized and straightforward. Let’s look into their features and services.
Services and features
One of the first things you’ll need to ensure is your tax-reporting platform perfectly integrates with your sales channel. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to display your key data in one location. This means that there is no need to gather data in multiple channels and then organize it on a single platform. All you have to do is connect TaxJar, it will handle the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to handle the tax returns. But, it is up to you and your team members to complete everything within the timeframe. TaxJar is only there to help you understand what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes to recording and processing it. There could be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as an inventory of your transactions, reports, as well as data.
The most appealing aspect of this option is the fact that it lets you to automatically update every day. They not only let to know the amount you’ve accumulated, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the sales tax totals in your business. You can also export the data as CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to search for your documents when you’re in the event of a need. Even if you already have your accountant, this function will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but everything that has to do with sales tax. You can look through their webinars, guides, and blog for 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 understand how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the best plan to help you in filing and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale company owner, this plan will be perfect for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for different from the basics Professional may be the best option for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports Integrations with APIs, teams of users, and AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge how much the Premium plan will cost you. Sales TaxJar Saas
However, they did mention that this plan is customized for every user. The cost of the plan will be different depending on what you need for your business.
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 give you enough time to determine whether the service is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar Let’s relax. To sum it all up, here are the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- 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.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you ought to try this.
It’s not just a way to aid in tracking your revenue and products, but it can also help you meet the deadlines you set. It’s also an excellent option for accountants as they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar will help you get more done while keeping track of every deadline and obligation you have to meet. If you live in a region with a lot of tax regulations, this will surely help you wrap your mind around it. Sales TaxJar Saas
But if handling your taxes is simple and straightforward, 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 everything. In addition, if you find the entire procedure easy to complete then you’re better off doing it by yourself.
FAQ Sales TaxJar Saas
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar determines the tax.