Taxes have always been among the most difficult tasks to complete, whether you’re running your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, performing the task on your own can be risky. If you make a mistake, you might need to repeat the process!
Most people want to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. While this is a long read but you’ll be able to gauge whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Amstery
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and can be completed in a matter of minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything simple and organized. Let’s look into their features and services.
Services and features
One of the most important things you’ll want to check is that your accounting tax system is compatible along with sales funnels. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key metrics in one place. So, there’s no need to gather information from multiple sources and organize it into one platform. All you need to do is integrate TaxJar it will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. In our review we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns, the team will instruct you on how to manage these. But, it is up for you and your team to complete the process on time. 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, which means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales through recording, and then processing them. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you need, such as the list of transactions, reports, as well as the data.
The best part about this option is the fact that it allows you to update automatically every day. They not only let you know how much you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. You can also export the information in CSV format. CSV file in case you require it to aid in accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything related to sales tax. You can look through their webinars, guides, and blog for more info. Apart from that their sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. For this reason we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small-scale company manager, the plan should be perfect for you. It may not have all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get different from the standard features, then the Professional plan could be the one for you. It starts at $99, but you can increase it if you add custom features.
How different is it from the basic plan?
In addition to having access to all of the Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for premium plans instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations Integrations with APIs, teams of members and AutoFiles.
They also have a staff dedicated in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Amstery
However, they did say that the plan is custom-made to each user. So the costs will vary depending on what you need to run your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the software is the right choice for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it help you track the sales and profits of your business however, it will also help you meet the deadlines you set. It’s also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using TaxJar can help you get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in an area with complex tax regulations, this will definitely help you get your head around it. TaxJar Amstery
However, if managing taxes is easy, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the whole process easy to do then you’re better to do it by yourself.
FAQ TaxJar Amstery
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate the tax.