Taxes have always been one of the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to hire an accountant, making it yourself can be dangerous. If you overlook one thing, you might have to redo things again!
Almost everyone wants to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can assist you. Even though this is lengthy it is possible to assess whether TaxJar is what you need in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What is TaxJar? Stripe TaxJar 179Mlundentechcrunch
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting software seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key data in one location. That way, there’s no requirement to collect information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. In our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. When the time is right for the filing of income tax returns The team will guide you on managing the tax returns. It is up for you and your team to complete the process within the timeframe. TaxJar is only there to guide you on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything is automated, from calculating sales tax through recording, and then processing them. However, there might be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use 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. Once you’re on the platform you and your staff will have access to all the information you require, including the list of transactions, reports, as well as the data.
The most appealing aspect of this feature is that it allows you to automatically update every day. Not only can they help to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows you to see the overall sales taxes for your business. You can also export the information in CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar offers tutorials and training, not just on their platform, but everything connected to sales tax. You can check out their webinars, guides or blog posts for additional details. In addition the sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you in filing and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller company manager, the plan could be ideal for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for that is more than the basics Professional could be the one for you. The price starts at $99 however, it could go up when you add additional features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge company, you may need to opt for an upgrade instead. It includes all of the features needed to aid in your tax preparation. Moreover, they allow unlimited import integrations of data as well as Integrations with APIs, teams of members and AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan costs you. Stripe TaxJar 179Mlundentechcrunch
But they did state that the plan is custom-made to each user. So the costs will vary depending on what you need for your company.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the software is the right choice for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue, but it can help you meet your deadlines. This is also an excellent option for accountants as they have tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Using TaxJar will help you get more done while keeping track of every deadline and requirement you have to fulfill. If you’re in a region with a lot of tax regulations, this will certainly help you to get your head around the subject. Stripe TaxJar 179Mlundentechcrunch
If handling taxes is easy and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure easy to complete, you might be better to do it on your own.
FAQ Stripe TaxJar 179Mlundentechcrunch
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you will need to convert it into US$ before TaxJar will calculate your tax.