Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. In the event that you do not have the budget to hire an accountant, making it your own can be risky. If you overlook one thing it could mean you have to do it all over again!
Most people want to skipping this step. However, since it’s mandatory, we have no choice.
What can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can benefit you. While this is lengthy, you should be able to gauge whether TaxJar is exactly what you need right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar 60 Day Trial
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to make their business more neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax system seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your critical metrics in one spot. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you need to do is connect 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 are able to integrate with:
Filing
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns The team will guide you on how to manage them. However, it will be up to you and your team members to complete everything on time. TaxJar will only help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing them. However, there might be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you require, including an inventory of your transactions, reports and the data.
The greatest benefit of this feature is that it allows you to automatically update every day. Not only will they let you know how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard also allows you to see the sales tax totals for your business. Additionally, you can export the data in CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training not only on their platform, but for anything related to sales tax. You can look through their webinars, guides or blog posts for additional info. Apart from that their sales tax calculator can be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small-scale business proprietor, then this program will be perfect for you. It might not include all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get different from the basic features and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to go for an upgrade instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrationsfor team members, and AutoFiles.
There is also a team who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar 60 Day Trial
However, they did say that the plan is custom-made for every user. The cost of the plan will be different in line with what you require for your company.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to see if the platform is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you should be aware of TaxJar Let’s relax. To summarize, here are the pros and cons of making use of TaxJar for your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have multiple sales channels and uses plenty of platforms. If this sounds like the way you do, then you should try this.
It’s not just a way to assist you in keeping track of your revenue and products, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you reduce time and keep track of every deadline and requirement you have to meet. If you’re in an area with complex tax laws, this will surely help you wrap your head around the subject. TaxJar 60 Day Trial
But if handling your taxes is simple, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar 60 Day Trial
Which areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar will calculate your tax.
