Taxes have always been one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to hire an accountant, performing the task on your own could be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can assist you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is exactly what you need today.
Prefer watching videos rather than watch them? Check out 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? Sign Up For TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting software is compatible along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to collect data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar, it will handle all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. In this review, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on how to handle the tax returns. It is up to you and your staff to complete the process on time. TaxJar will only provide guidance on what you should do but not 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. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing them. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as an inventory of your transactions, reports, and the data.
The most appealing aspect of this feature is that it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
The dashboard allows users to view in detail the overall sales taxes within your company. It is also possible to export your data in CSV format. CSV file if you need it to aid in financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything connected to sales tax. You can check out their webinars, guides as well as their blog to find more information. Additionally the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the best plan if you need help with filing requirements and reporting. It also includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a smaller company manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for something that is more than the basics Professional might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge business, you might need to choose the Premium plan instead. It has all of the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan costs you. Sign Up For TaxJar
However, they did mention that this plan is tailor-fit to each user. So the costs will vary depending on what you need to run your business.
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should be enough time to see whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. To sum it all up, here are the pros and cons of using 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
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you must try TaxJar.
Not only can it help you track the sales and profits of your business however, it will help you meet your deadlines. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar will help you reduce time and keep on top of each deadline and requirement you have to meet. If you’re in a region with a lot of tax laws, this will certainly help you to get your mind around it. Sign Up For TaxJar
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to track everything. If you find the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Sign Up For TaxJar
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar determines the tax.