Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have enough money to employ an accountant, making it your own could be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required, we have no choice.
What can we do ?
It is always possible to make our lives 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. Even though this is lengthy, you should be able to gauge whether TaxJar is what you need today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar Squarespace And TaxJar
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting software perfectly integrates along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key data in one location. So, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you need to do is to integrate TaxJar, then the system will do all the rest.
In addition, TaxJar also integrates with other platforms to assist 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 by hand or using TaxJar’s AutoFile feature. In our review we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to manage the tax returns. It is up for you and your team to complete everything within the timeframe. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating taxes on sales to recording and processing it. There could be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your team will have access to all the information you need, like an inventory of your transactions, reports, as well as information.
The best part about the feature you’ve chosen is it lets you to automatically update every day. Not only will they 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 payments are due.
Their dashboard can also allow you to see the sales tax totals within your company. You can also export the information in the form of a CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the channels you sell through. That means you won’t have to scramble for your documents when you’re in the event of a need. Even if you already have your accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover other operating expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything connected to sales tax. You can look through their webinars, guides or blog posts for additional information. In addition their sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, 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 if you need help in filing and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale company owner, this plan should be perfect for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get a bit more than just the basics, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to go for an upgrade instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of users as well as AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. Squarespace And TaxJar
But they did state that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require for your company.
Luckily, you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of the use of TaxJar for 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.
- 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.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only will it help you track your revenue and products however, it will help you meet the deadlines you set. It is also a great opportunity for accountants since they have tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you reduce time and keep the track of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this will certainly help you to get your head around it. Squarespace And TaxJar
However, if managing your taxes is simple, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow then you’re better in doing it all on your own.
FAQ Squarespace And TaxJar
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into USUSD before TaxJar will calculate your tax.