Taxes have always been one of the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the budget to employ an accountant, performing the task on your own can be dangerous. If you miss one detail, you might have to redo things again!
Most people want to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and explain how it can assist you. While this is lengthy, you should be able to determine if TaxJar is exactly what you need in the present.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? TaxJar 3Dcart
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with sales taxes. It streamlines processes that take days to complete and finish within just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to make their business more simple and organized. Let’s explore their features and services.
Features and services
One of the first things you’ll need to ensure is that your accounting tax platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. That way, there’s no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. In our review we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns, the team will instruct you on how to handle these. But, it is up to you and your team to finish the tax returns on time. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you’d 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. With this feature, everything will be automated, from calculating sales tax in order to record and process them. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your team will have access to all the information you require, including the list of transactions, reports, as well as the data.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only can they help you know how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. Additionally, you can export the information in the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. 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 related to sales tax. You can look through their guides, webinars, as well as their blog to find more details. Apart from that, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business manager, the plan could be perfect for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something a bit more than just the basic features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it by adding custom features.
So how different is it from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge business, you might need to opt for premium plans instead. It has all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team users as well as AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose how much the Premium plan will cost you. TaxJar 3Dcart
But they did state that this plan is customized for each user. Therefore, the cost will differ depending on what you need for your business.
Luckily, you don’t have to risk your money to find out if the platform 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 determine whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for 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 numerous platforms. If this sounds like the way you’re doing, then ought to try this.
Not only will it aid in tracking your revenue and products, but it can also help you meet the deadlines you set. It is also a great opportunity for accountants since they have tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar can help you get more done while keeping on top of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this can surely help you wrap your head around the subject. TaxJar 3Dcart
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do, you might be better to do it by yourself.
FAQ TaxJar 3Dcart
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions are in US$. If you’re using a different currency, you’ll have to convert it to US$ before TaxJar will calculate the tax.