Taxes have always been among the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have a degree in finance or accounting. Tax-related work aren’t easy, particularly when you’re packed with things to do. If you don’t have the funds to employ an accountant, performing the task on your own could be dangerous. If you overlook one thing, you might need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving device and how it can assist you. Even though this is lengthy but you’ll be able to assess whether TaxJar is the tool you require right now.
Are you looking 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.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? Stackoverflow TaxJar [J[
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. So, there’s no need to collect information from multiple sources and organize it into one platform. All you need to do is to integrate TaxJar and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers submit their sales tax either manually or via TaxJar’s AutoFile feature. For this review, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to handle them. But, it is up for you and your team to complete everything within the timeframe. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything is automated, from calculating sales tax to recording and processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team can access everything you need, such as a list of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. Not only can they help you know how much you’ve accumulated, but they also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. You can also export the data in the form of a CSV file in case you require it for your accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds better. You’ll know better how much budget you have to cover other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also all things connected to sales tax. You can look through their webinars, guides, as well as their blog to find more information. In addition their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. The company claims that it’s the best plan 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. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale company owner, this plan could be ideal for you. It may not have all of TaxJar’s features but it comes with all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration features.
If you’re looking for that is more than the basics Professional could be the one for you. It’s priced at $99 however, it could go up by adding custom features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for premium plans instead. It includes all of the features you need to aid in your tax preparation. Moreover, they allow unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.
They also have a staff who are devoted for managing the account. However, they don’t disclose how much the Premium plan is going to cost. Stackoverflow TaxJar [J[
But they did state that the plan is custom-made for each user. The cost of the plan will be different in line with what you require for your business.
Luckily, you don’t have to bet your life on it to find out if the platform is right for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to determine whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of making use of TaxJar to run your business.
- Does the plan include 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
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track 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 review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then should try this.
Not only can it assist you in keeping track of your products and revenue, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they have the Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you reduce time and keep track of every deadline or requirement you need to meet. If you’re in a place with complicated tax regulations, this will surely help you wrap your head around the subject. Stackoverflow TaxJar [J[
But if handling taxes is easy If it isn’t, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire procedure easy to complete then you’re better to do it by yourself.
FAQ Stackoverflow TaxJar [J[
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in US$. If you’re using a different currency, you’ll have to convert it into USUSD before TaxJar can calculate the tax.