Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when you’re full of things to be done. If you don’t have the funds to engage an accountant doing it on your own can be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. Even though this is an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar? Spree Taxcloud Or TaxJar
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar lets you display your most important data in one location. That way, there’s no need to collect information from multiple sources and then organize it on a single platform. All you have to do is connect TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on managing the tax returns. It is up to you and your team to complete everything on time. TaxJar will only help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating sales tax in order to record and process it. There could be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your staff can access everything you require, including the list of transactions, reports, as well as the data.
The best part about this feature is that they allow you to update automatically every day. They not only let you keep track of how much you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows users to view in detail the sales tax totals for your business. You can also export your data to a CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to scramble 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 in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but all things that has to do with sales tax. Check out their webinars, guides, or blog posts for additional information. Additionally 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 establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing levels and the features that each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you if you need help with filing requirements or reporting. It also includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small business proprietor, then this program will be perfect for you. It might not include all of TaxJar’s features, but it has all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for different from the basics, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose the Premium plan instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited import integrations of data API integrationsfor team users and AutoFiles.
They also have a staff that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. Spree Taxcloud Or TaxJar
But they did state that this plan is customized for every user. So the costs will vary according to what you require for your company.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to see whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you must know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of the use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce 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 able to be integrated with other platforms.
- It allows you to monitor multiple 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 valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it aid in tracking your revenue and products It can help you meet your deadlines. It is also a great opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can allow you to 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 regulations, this will surely help you wrap your head around it. Spree Taxcloud Or TaxJar
But if handling your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
FAQ Spree Taxcloud Or TaxJar
What areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect 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 currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar can calculate your tax.