Taxes have always been one of the most difficult tasks to complete, whether you’re running your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required, we have no choice.
So , what can we do ?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can benefit you. Although this is quite an extensive read it is possible to assess whether TaxJar is the tool you require today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar Stitchlabs TaxJar
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all your channels of sales to ensure compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your critical metrics in one place. So, there’s no need to collect data from different channels and organize it into a single platform. All you need to do is connect TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. In this review, we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income The team will guide you on managing the tax returns. However, it will be up for you and your team to complete everything on time. 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 for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating taxes on sales in order to record and process them. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you require, including an inventory of your transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that it lets you to automatically update every day. Not only can they help you keep track of how much you’ve earned however, they can also help you track when your following payment is due.
Their dashboard can also allow you to see the sales tax totals in your business. Additionally, you can export the information as 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.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. That means you won’t have to scramble for your documents when you’re in the event of a need. Even when you already have your accountant, this function will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but all things connected to sales tax. You can check out their guides, webinars, as well as their blog to find more details. In addition their sales tax calculator should be helpful if you’re planning on 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 expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small business owner, this plan will be perfect for you. It might not include all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking for something that is more than the standard features Professional could be the one for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive business, you might need to opt for an upgrade instead. It includes all of the features you need to help with your taxes. In addition, they offer unlimited import integrations of data API integrations, team members as well as AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. Stitchlabs TaxJar
But they did state that the plan is custom-made for each user. Therefore, the cost will differ according to what you require to run your business.
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still considering different options, they offer a 30-day free trial. It should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated 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 applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you should try this.
Not only can it assist you in keeping track of your revenue and products however, it will help you meet the deadlines you set. This is also an excellent option for accountants as they offer a Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar can allow you to reduce time and keep track of every deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this will surely help you wrap your head around it. Stitchlabs TaxJar
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the whole procedure easy to complete, you might be better off doing it on your own.
FAQ Stitchlabs TaxJar
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to US$ before TaxJar will calculate your tax.