Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business 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 hire an accountant, making it your own can be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. Although this is quite a long read but you’ll be able to determine if TaxJar is the tool you require in the present.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s dive right in.
What exactly is TaxJar? Should I Use TaxJar
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 all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with your sales taxes. It simplifies the 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 businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is your tax-reporting software perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to maintain everything in line. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your key data in one location. This means that there is no requirement to collect information from multiple sources and then organize it on a single platform. All you have to do is connect TaxJar then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes manually or through TaxJar’s 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 your sales platforms. When it comes time to filing tax returns for income TaxJar will train you on how to handle the tax returns. But, it is up for you and your team members to complete the process within the timeframe. TaxJar will only help you understand 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 won’t need to fill out all forms by hand. Through this feature, everything will be automated from calculating sales taxes to recording and processing them. But, it is possible to incur additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your team can access everything you require, including a list of your transactions, reports, as well as the data.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. Not only can they help you keep track of how much you’ve collected however, they can also help you track when your following payment is due.
The dashboard allows you to see the sales tax totals for your business. It is also possible to export the information to a CSV file, if you want to use it to aid in process of financial planning and accounting 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 whenever you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training, not just on their platform, but for anything that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional information. In addition the sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a smaller business proprietor, then this program should be perfect for you. It may not have all of TaxJar’s features, but it has the basic features you require.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for a bit more than just the basic features and options, 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 basic plan?
In addition to having access to every one of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge company, you may need to go for an upgrade instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of members as well as AutoFiles.
There is also a team that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. Should I Use TaxJar
But they did state that the plan is custom-made to each user. So the costs will vary according to what you require for your business.
Free Trial
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 different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is an excellent fit for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a breather. To summarize, here are the pros and cons of the use of TaxJar for your company.
Pros
- Does the plan include the 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.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated 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 be able to access the API feature
- Only valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
Not only can it aid in tracking your revenue and products, but it can also help you meet your deadlines. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this can certainly help you to get your head around the subject. Should I Use TaxJar
If handling taxes is easy, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the whole process easy to do, you might be better in doing it all on your own.
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FAQ Should I Use TaxJar
What are the areas in which 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 integrate 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 using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it to US$ prior to when TaxJar will calculate the tax.
