Taxes are always one of the hardest things to do regardless of whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. In the event that you do not have the budget to hire an accountant, doing it on yourself can be dangerous. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to avoid 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 with tools such as TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. While this is a long read but you’ll be able to determine if TaxJar is the tool you require in the present.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? Saving TaxJar Transactions
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s take a look at their features and services.
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Features and services
Integration
One of the most important things you’ll want to check is that your accounting tax platform perfectly integrates along with sales funnels. If you have multiple sales channels, it is essential to maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your key data in one location. So, there’s no need to collect information from multiple sources and sort it into one platform. All you have to do is to integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. In our review we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns, the team will instruct you on managing the tax returns. It is up to you and your staff to finish the tax returns within the timeframe. TaxJar is there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating sales tax to recording and processing them. There could be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, such as the list of transactions, reports, and information.
The best part about this option is the fact that it lets you to update automatically every day. They not only let to know the amount you’ve earned however, they can also help you keep track of when the next payment is due.
The dashboard allows you to see the total sales tax in your business. You can also export your data in CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of 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 when you already have your accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training, not just for their platform , but also for anything related to sales tax. You can look through their webinars, guides as well as their blog to find more info. In addition their 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 understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale business manager, the plan will be perfect for you. It may not have all of TaxJar’s features, but it has all the basics you require.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for something different from the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive enterprise, you may want to opt for premium plans instead. It includes all of the features needed to make your tax filing easier. Moreover, they allow unlimited import integrations of data as well as Integrations with APIs, teams of members and AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge the price of the Premium plan. is going to cost. Saving TaxJar Transactions
However, they did say that the plan is custom-made for each user. So the costs will vary according to what you require for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to determine whether the software is a good fit for you.
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Pros and Cons
Now that we’ve covered all you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides 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.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it aid in tracking the sales and profits of your business however, it will help you meet your deadlines. It’s also an excellent option for accountants as they provide the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax laws, this can definitely help you get your head around the subject. Saving TaxJar Transactions
But if handling your taxes is simple, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
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FAQ Saving TaxJar Transactions
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate the tax.
