Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have enough money to hire an accountant, doing it on your own could be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to skipping this step. However, since it’s mandatory, we have no choice.
So what can we do ?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can help you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is exactly what you need right now.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar 1099
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for 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 your sales taxes. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting software is compatible along with sales funnels. If you’re selling through multiple channels, it is essential 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 display your critical metrics in one spot. That way, there’s no need to gather data from different channels and then organize it on a single platform. All you need to do is to integrate TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. In this review, we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to the filing of income tax returns The team will guide you on how to handle them. However, it will be up for you and your team to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team can access everything you need, like an inventory of your transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only can they help to know the amount you’ve earned however, they can also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. Additionally, you can export your data to the form of a CSV file, if you want to use it in your accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates 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.
What’s more is that TaxJar offers training and tutorials, not just for their platform but everything connected to sales tax. Check out their webinars, guides or blog posts for additional information. Apart from that the sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing tiers and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business proprietor, then this program will be ideal for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
You can also contact the support team via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for something different from the standard features Professional could be the one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support, API access, and the ability to do 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 that you require to make your tax filing easier. In addition, they offer unlimited integrations with data imports, API integrationsfor team users as well as AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar 1099
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to see if the platform is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- 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 valid for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you should try this.
Not only can it assist you in keeping track of your products and revenue however, it will assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline or requirement you need to meet. If you’re in a region with a lot of tax regulations, this will definitely help you get your head around the subject. TaxJar 1099
If handling taxes is easy and straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure easy to complete, you might be better in doing it all by yourself.
FAQ TaxJar 1099
What are the areas in which TaxJar provide API assistance?
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 sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into US$ before TaxJar determines your tax.