Taxes have always been among the most difficult tasks to complete regardless of whether you run your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to hire an accountant, making it your own could be dangerous. If you make a mistake, you might have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can assist you. Although this is quite lengthy, you should be able to gauge whether TaxJar is what you need in the present.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Address Sales Tax Lookup
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax platform perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no need to collect data in multiple channels and sort it into one platform. All you have to do is connect TaxJar and the platform will take care of all the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. In this review, we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on managing the tax returns. It is up to you and your team to complete everything in time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. Through this feature, everything will be automated from calculating sales taxes to recording and processing it. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team will have access to all the information you need, like a list of your transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. They not only let you know how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows you to fully view the sales tax totals in your business. You can also export the information to CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to search for your documents when you’re in the event of a need. Even if you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates 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 to cover other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything related to sales tax. You can look through their guides, webinars, as well as their blog to find more information. Apart from that their sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements and reporting. It also includes the tax on sales, four 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 smaller company proprietor, then this program could be perfect for you. It may not offer all the features offered by TaxJar but it comes with the basic features you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something different from the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the basic plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge business, you might need to choose an upgrade instead. It has all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited import integrations of data as well as API integrations, team members and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Address Sales Tax Lookup
However, they did mention that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require for your business.
Luckily, you don’t have to risk your money to determine if this service is for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to determine if the platform is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online 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.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies with multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it assist you in keeping track of your products and revenue, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and requirement you have to meet. If you live in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar Address Sales Tax Lookup
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar Address Sales Tax Lookup
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar can calculate the tax.