Taxes are always one of the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. 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 enough money to engage an accountant making it your own could be risky. If you make a mistake, you might need to repeat the process!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. Although this is quite lengthy it is possible to gauge whether TaxJar is exactly what you need today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar Some Transactions Not Showing In TaxJar From Past
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of your sales channels to ensure that you are in compliance with your sales taxes. It simplifies the processes that take days to complete and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to keep everything organized and straightforward. Let’s explore their features and services.
Services and features
One of the first things you’ll need to ensure you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one place. That way, there’s no need to collect data in multiple channels and sort it into one platform. All you have to do is integrate TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes manually or through the AutoFile feature. In the purpose of this article, we’ll look at both.
If you decide to manually file your tax returns, 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 them. It is up for you and your team to finish the tax returns in time. TaxJar is only there to help you understand what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. Through this feature, everything is automated, from calculating sales tax through recording, and then processing it. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you require, including an inventory of your transactions, reports, as well as data.
The most appealing aspect of this feature is that they allow you to update your account automatically each day. Not only can they help you know how much you’ve earned however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. It is also possible to export your data in a CSV file, if you want to use it in your financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to search for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this function can make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but all things connected to sales tax. You can look through their webinars, guides or blog posts for additional details. In addition, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements and reporting. It comes with the tax on sales, four 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 small-scale company proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features, but it has the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for a bit more than just the basics and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it by adding custom features.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to go for an upgrade instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited data import integrations as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a staff dedicated for managing the account. But, they don’t divulge how much the Premium plan costs you. Some Transactions Not Showing In TaxJar From Past
However, they did say that the plan is custom-made to each user. The cost of the plan will be different depending on what you need to run your business.
Fortunately, you don’t need to bet your life on it to determine if this service is the right one for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to see if the platform is the right choice for you.
Pros and Pros and
After we’ve gone over everything you need to be aware of TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of the use of TaxJar to run your business.
- Does the plan include 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.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only will it help you track the sales and profits of your business however, it will also help you meet your deadlines. This is also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax laws, this can definitely help you get your head around it. Some Transactions Not Showing In TaxJar From Past
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. If you find the whole process easy to do and you’re comfortable with it, you may be better to do it by yourself.
FAQ Some Transactions Not Showing In TaxJar From Past
Which areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into USUSD before TaxJar determines the tax.