Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have the funds to engage an accountant performing the task on yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. While this is an extensive read but you’ll be able to determine if TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? Stripe Orders And TaxJar
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is simple and organized. Let’s look into the features and services offered by TaxJar.
Features and services
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 using multiple sales channels, you need to keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one spot. So, there’s no need to gather data from different channels and organize it into one platform. All you have to do is to integrate TaxJar, and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on how to manage them. It is up to you and your team members to complete everything in time. TaxJar will only help you understand what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales taxes in order to record and process them. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you require, including the list of transactions, reports, and data.
The best part about this feature is that it lets you to automatically update every day. Not only can they help to know the amount you’ve accumulated however, they can also help you keep track of when the next payment is due.
The dashboard allows you to fully view the sales tax totals for your business. You can also export the information to a CSV file if you need it to aid in financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to search for your documents when you’re in the event of a need. Even even if you already have an accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but for anything 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 can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they can be too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and what each of those options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the best plan for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company manager, the plan will be ideal for you. It may not offer all the features of TaxJar, but it has the basic features you require.
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 for different from the standard features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone, API access, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose premium plans instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrationsfor team users as well as AutoFiles.
There is also a team dedicated for managing the account. But, they don’t divulge how much the Premium plan costs you. Stripe Orders And TaxJar
But they did state that this plan is customized to each user. So the costs will vary in line with what you require to run your business.
It’s a good thing that you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to gauge if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several 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 for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will surely help you wrap your mind around it. Stripe Orders And TaxJar
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do then you’re better in doing it all on your own.
FAQ Stripe Orders And TaxJar
Which areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link 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 cannot convert currencies. All transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar can calculate your tax.