Taxes have always been one of the most difficult things to handle regardless of whether you run an enterprise or not. More so if you don’t have a background in finance or accounting. 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 employ an accountant, performing the task on your own could be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can help you. Although this is quite a long read, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What is TaxJar TaxJar Amazon
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all 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 minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll want to check is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to maintain everything in line. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one spot. This means that there is no need to gather data in multiple channels and organize it into a single platform. All you need to do is to integrate TaxJar, then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. In this review, we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing tax returns for income The team will guide you on managing these. It is up to you and your team members to complete the process within the timeframe. TaxJar is only there to guide you on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. Through this feature, everything is automated, from calculating sales tax in order to record and process them. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there, you and your team will have access to everything you require, including an inventory of your transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is it allows you to update automatically every day. Not only will they let to know the amount you’ve accumulated however, they can also help you determine when your next payments are due.
Their dashboard also allows you to fully view the overall sales taxes for your business. You can also export the data in a CSV file if you need it in your financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training, not just on their platform, but for anything that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more details. Apart from that their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with sales tax reporting, four autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small company owner, this plan will be perfect for you. It might not include all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for different from the standard features Professional might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to opt for the Premium plan instead. It has all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports Integrations with APIs, teams of members, and AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Amazon
However, they did mention that the plan is custom-made for each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a break. To summarize we’ll go over the pros and cons of making use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not 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 laid out TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it assist you in keeping track of your revenue and products however, it will assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can help you reduce time and keep track of every deadline or requirement you need to meet. If you live in an area with complex tax regulations, this will surely help you wrap your mind around it. TaxJar Amazon
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure easy to complete, you might be better off doing it by yourself.
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FAQ TaxJar Amazon
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to 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 currency values. All transactions are in US$. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar can calculate the tax.
