Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, particularly 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 yourself can be risky. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. While this is an extensive read it is possible to determine if TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar Scott Voelker TaxJar
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll want to check is your tax-reporting software perfectly integrates with your sales channel. If you have multiple sales channels, you must maintain everything in line. 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 data in multiple channels and organize it into a single platform. All you have to do is connect TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. In our review we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. Once the time comes for filing tax returns for income, the team will instruct you on how to handle these. However, it will be up to you and your team members to finish the tax returns within the timeframe. TaxJar is there to guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax to recording and processing it. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your staff will have access to all the information you require, including the list of transactions, reports, as well as the data.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard also allows users to view in detail the sales tax totals within your company. It is also possible to export the data as the form of a CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just on their platform, but for anything related to sales tax. You can look through their webinars, guides and blog for more information. Apart from that, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they can be too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller business owner, this plan will be perfect for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
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 different from the basic features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher if you add custom features.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support 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 company, you may need to opt for an upgrade instead. It has all of the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team users as well as AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. Scott Voelker TaxJar
But they did state that this plan is customized for each user. The cost of the plan will be different according to what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features help 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
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to help you track the sales and profits of your business, but it can help you meet your deadlines. This is also an excellent platform for an accountant since they offer tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this will surely help you wrap your head around it. Scott Voelker TaxJar
However, if managing your taxes is straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure easy to complete, you might be better off doing it by yourself.
FAQ Scott Voelker TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to USUSD before TaxJar can calculate the tax.