Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have enough money to hire an accountant, doing it on your own can be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. However, since it’s mandatory 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.
We’ll look at this well-known life-saving tool and how it can help you. Even though this is a long read, you should be able to assess whether TaxJar is the tool you require right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Affiliate Program
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could take days to complete and finish within just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax platform perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must ensure that everything is in order. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to collect data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar, it will do all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via their AutoFile feature. For our review we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns The team will guide you on managing these. But, it is up for you and your team to finish the tax returns within the timeframe. TaxJar will only help you understand what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to all the information you require, including the list of transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only can they help to know the amount you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the total sales tax within your company. It is also possible to export the data in the form of a CSV file, if you want to use it in your process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to search for your documents whenever you’re in the event of a need. Even when you already have your accountant, this feature will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operating expenses.
What’s more is that TaxJar offers training and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can look through their webinars, guides or blog posts for additional information. Additionally, their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small business owner, this plan should be perfect for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking for that is more than the basics and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher if you add custom features.
How different is it from the starter 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. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for an upgrade instead. It has all of the features that you require to help with your taxes. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of users as well as AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Affiliate Program
But they did state that this plan is tailor-fit to each user. The cost of the plan will be different in line with what you require for your business.
Luckily, you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to gauge whether the software is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to help you track your revenue and products It can help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline or requirement you need to meet. If you’re in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Affiliate Program
If handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Affiliate Program
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency with 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 into US$ before TaxJar can calculate your tax.