Taxes have always been one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford the funds to engage an accountant making it your own could be dangerous. If you miss one detail, you might need to repeat the process!
Almost everyone wants to skip this step. But since it’s required, we have no choice.
So what can we do ?
We can make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can help you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is what you need today.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? Spree TaxJar
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can 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 as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll want to check is that your accounting tax software is compatible along with sales funnels. If you’re selling through multiple channels, you must ensure that everything is in order. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. That way, there’s no need to collect data from different channels and then organize it on a single platform. All you have to do is integrate TaxJar and the platform will take care of all 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 they can integrate with:
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income The team will guide you on how to handle them. But, it is up for you and your staff to complete everything in time. TaxJar is only there to guide you on what you need 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. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as a list of your transactions, reports and the data.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. They not only let you know how much you’ve earned, but they also help you keep track of when the next payment is due.
The dashboard allows you to fully view the total sales tax in your business. Additionally, you can export your data in the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training not only for their platform but everything related to sales tax. Check out their guides, webinars, or blog posts for additional details. In addition their sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the most effective plan to help you in filing and reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small business proprietor, then this program will be ideal for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get a bit more than just the basics and options, then the Professional plan could be the one for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for premium plans instead. It includes all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports API integrations, team members, and AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal the amount that the Premium plan will cost you. Spree TaxJar
However, they did say that this plan is customized for each user. The cost of the plan will be different in line with what you require to run your business.
Luckily, 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 looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the service is a good fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar Let’s relax. To summarize Here are the advantages and disadvantages 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 on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only will it aid in tracking your products and revenue, but it can help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar will help you reduce time and keep the track of each deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this can certainly help you to get your head around the subject. Spree TaxJar
But if handling your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure simple to follow then you’re better in doing it all on your own.
FAQ Spree TaxJar
What areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect 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 using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar will calculate your tax.