Taxes have always been one of the hardest things to do regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to employ an accountant, performing the task on your own could be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this life-saving tool and how it can help you. Even though this is a long read it is possible to assess whether TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar Striped TaxJar
The company was 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 all aspects of your sales tax cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s explore their features and services.
Services and features
One of the first things you’ll need to ensure is your tax-reporting software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar lets you display your most important metrics in one place. This means that there is no need to collect data from different channels and then organize it on a single platform. All you need to do is connect TaxJar and the platform will do 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 manually or through their AutoFile feature. In this review, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on how to manage the tax returns. However, it will be up for you and your staff to complete everything within the timeframe. TaxJar is there to guide you on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard via this platform. From there, you and your team can access everything you need, such as a list of your transactions, reports, and data.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only can they help to know the amount you’ve earned, but they also help you track when your following payments are due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. You can also export your data in a CSV file, if you want to use it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds better. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but for anything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more details. Apart from that their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the most suitable plan for you if you need help with filing requirements or reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small business owner, this plan should be perfect for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something a bit more than just the basics and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the original plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to go for premium plans instead. It includes all of the features you need to make your tax filing easier. In addition, they offer unlimited integrations with data imports, API integrations, team members, and AutoFiles.
They also have a staff who are devoted to managing your account. But, they don’t divulge the amount that the Premium plan will cost you. Striped TaxJar
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to see whether the service is an excellent fit for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on 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 clearly laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of your products and revenue It can assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can help you reduce time and keep the track of each deadline and requirement you have to meet. If you’re living in a region with a lot of tax laws, this will definitely help you get your mind around it. Striped TaxJar
However, if managing your taxes is simple, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ Striped TaxJar
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar will calculate the tax.