Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to engage an accountant performing the task on your own can be dangerous. If you make a mistake it could mean you need to repeat the process!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
We can make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can help you. While this is a long read, you should be able to determine if TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Add Transactions Via Spreadsheet
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure is your tax-reporting platform is compatible with your sales channel. If you’re selling through multiple channels, you need to keep everything in place. The most important thing is not to get a penalty for missing a single minor point.
TaxJar lets you display your most important metrics in one spot. So, there’s no need to collect data in multiple channels and then organize it on a single platform. All you have to do is integrate TaxJar then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to manage them. However, it will be up for you and your team members to complete everything in time. TaxJar will only guide you on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales to recording and processing it. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you need, such as a list of your transactions, reports and the data.
The best part about this option is the fact that it lets you to update automatically every day. Not only will they let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to see the total sales tax in your business. Additionally, you can export the data in CSV format. CSV file in case you require it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know better how much budget you have available for other operating expenses.
The best part is that TaxJar offers training and tutorials not only for their platform , but also all things that has to do with sales tax. You can look through their webinars, guides, and blog for more details. In addition, their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and what each of those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the best plan to help you with filing requirements or reporting. It comes with the tax on sales, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller business proprietor, then this program will be perfect for you. It may not have all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the basic features Professional could be the one for you. It’s priced at $99 but you can increase it by adding custom features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also have their support via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to go for an upgrade instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited integrations with data imports API integrations, team members as well as AutoFiles.
There is also a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Add Transactions Via Spreadsheet
However, they did mention that this plan is tailor-fit for each user. So the costs will vary in line with what you require for your company.
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into different options, they offer a 30-day free trial. It should give you enough time to see whether the software is the right choice 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 advantages and disadvantages of using TaxJar to run your business.
- There is the 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 simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If this sounds like the way you do, then you ought to try this.
Not only can it aid in tracking the sales and profits of your business It can also help you meet the deadlines you set. It is also a great opportunity for accountants since they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax regulations, this will definitely help you get your head around it. TaxJar Add Transactions Via Spreadsheet
If handling your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you only have one or two sales channels, 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 in doing it all by yourself.
FAQ TaxJar Add Transactions Via Spreadsheet
Which areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in US$. If you’re using a different currency, you will need to convert it to USdollars before TaxJar will calculate your tax.