Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re packed with things to do. If you don’t have the funds to employ an accountant, doing it on your own can be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to avoid 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.
We’ll look at this life-saving tool and how it can benefit you. Although this is quite lengthy, you should be able to gauge whether TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? Sd Sales Tax TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s 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 sales taxes. It streamlines processes that require days to complete and finish within minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your most important data in one location. So, there’s no requirement to collect information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. In this review, we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns, the team will instruct you on how to manage these. It is up for you and your staff to finish the tax returns within the timeframe. TaxJar is there to provide guidance on what you have to accomplish, but not manage it.
If you’d 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 will be automated from calculating taxes on sales through recording, and then processing them. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you require, including a list of your transactions, reports, and information.
The greatest benefit of this feature is that it lets you to update your account automatically each day. Not only can they help you know how much you’ve accumulated however, they can also help you keep track of when the next payments are due.
Their dashboard also allows you to fully view the overall sales taxes in your business. Additionally, you can export the data as CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents whenever you’re in the event of a need. Even when you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have available for other operational costs.
The best part is that TaxJar offers training and tutorials not only for their platform but for anything related to sales tax. You can check out their guides, webinars, or blog posts for additional info. In addition their sales tax calculator should be beneficial when you’re planning to complete everything 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’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan if you need help with filing requirements or reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company owner, this plan could be ideal for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking to get that is more than the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher when you add additional features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large company, you may need to choose an upgrade instead. It includes all of the features needed to aid in your tax preparation. Moreover, they allow unlimited data import integrations as well as Integrations with APIs, teams of users and AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. Sd Sales Tax TaxJar
However, they did say that this plan is tailor-fit for each user. So the costs will vary 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 the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to gauge if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To summarize we’ll go over the pros and cons of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online 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.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it assist you in keeping track of the sales and profits of your business, but it can also help you meet the deadlines you set. It’s also an excellent option for accountants as they have tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will surely help you wrap your mind around it. Sd Sales Tax TaxJar
But if handling your taxes is simple and straightforward, 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 track all of it. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ Sd Sales Tax TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate 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 kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in US$. If you’re using another currency, you’ll have to convert it into US$ before TaxJar determines the tax.