Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the budget to employ an accountant, making it yourself can be risky. If you overlook one thing, you might have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can benefit you. Even though this is lengthy it is possible to determine if TaxJar is the tool you require today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar? Set TaxJar For Resale Customers
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales tax requirements. It streamlines processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, 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 explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. 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 metrics in one spot. This means that there is no need to gather data in multiple channels and organize it into a single platform. All you need to do is connect TaxJar it will do the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers submit their sales tax either manually or via their AutoFile feature. For our review we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income The team will guide you on managing these. It is up for you and your team to complete everything in time. TaxJar is there to guide you on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating sales tax to recording and processing it. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team can access everything you need, such as the list of transactions, reports and the data.
The best part about this option is the fact that they allow you to automatically update every day. They not only let to know the amount you’ve collected, but they also help you determine when your next payment is due.
The dashboard allows users to view in detail the sales tax totals in your business. Additionally, you can export your data as CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to search for your documents when you’re in the event of a need. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have available for other operational expenses.
What’s more is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. Check out their guides, webinars, or blog posts for additional info. Additionally the sales tax calculator should be useful if 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. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller company manager, the plan should be ideal for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their support team with their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking to get a bit more than just the standard features, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
What is the difference from the basic plan?
Apart from having access to every one of Starter plan’s features, you also have their phone customer support, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for premium plans instead. It includes all of the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports as well as API integrations, team users, and AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. will cost you. Set TaxJar For Resale Customers
However, they did mention that this plan is tailor-fit to each user. Therefore, the cost will differ in line with what you require for your business.
Fortunately, you don’t need to risk your money to find out if the platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To sum it all up, here are the pros and cons of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it help you track your revenue and products, but it can also help you meet your deadlines. It’s also an excellent platform for an accountant since they have a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this can surely help you wrap your head around the subject. Set TaxJar For Resale Customers
But if handling taxes is easy, then TaxJar could be a waste of 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 whole process easy to do then you’re better off doing it on your own.
FAQ Set TaxJar For Resale Customers
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to USdollars before TaxJar can calculate your tax.