Taxes are always one of the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to employ an accountant, making it your own could be dangerous. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can always simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. Although this is quite a long read it is possible to gauge whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? TaxJar Affiliate Agreement
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it in all of your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you must maintain everything in line. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to show your most important metrics in one spot. So, there’s no need to gather information from multiple sources and organize it into a single platform. All you have to do is connect TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. In this review, we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income The team will guide you on how to handle the tax returns. It is up for you and your staff to finish the tax returns on time. TaxJar will only guide you on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating sales tax in order to record and process them. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there you and your staff will have access to all the information you need, such as the list of transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. Not only can they help you know how much you’ve collected however, they can also help you determine when your next 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 CSV format. CSV file, if you want to use it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to scramble for your documents 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 can help you allocate your funds better. You’ll be aware of the budget you have for other operational costs.
What’s more is that TaxJar provides training and tutorials not only on their platform, but for anything connected to sales tax. Check out their webinars, guides or blog posts for additional info. In addition, their sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They say it’s the best plan if you need help with filing requirements and reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small company owner, this plan should be ideal for you. It might not include all of TaxJar’s features however, it does include all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for different from the basics, then the Professional plan could be the one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for premium plans instead. It includes all of the features needed to make your tax filing easier. Moreover, they allow unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
They also have a team dedicated in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Affiliate Agreement
However, they did say that this plan is customized to each user. Therefore, the cost will differ according to what you require for your business.
Fortunately, you don’t need to gamble your money just to determine if this service is right for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to gauge whether the software is the right choice for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of using TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with multiple sales channels and uses many platforms. If that sounds like what you do, then you should try this.
Not only can it help you track your products and revenue, but it can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they have a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar Affiliate Agreement
But if handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Affiliate Agreement
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with 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 does not convert currencies. All of the transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate your tax.