Taxes have always been one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. In the event that you do not have the budget to engage an accountant making it yourself can be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do about it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Even though this is an extensive read, you should be able to determine if TaxJar is what you need today.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar TaxJar And Bigcommerce
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that can 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 companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything organized and straightforward. Let’s explore their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you must ensure that everything is in order. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one spot. That way, there’s no need to collect information from multiple sources and sort it into one platform. All you need to do is integrate TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. For this review, we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income The team will guide you on managing them. However, it will be up for you and your staff to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that 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 it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through 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 information.
The greatest benefit of this option is the fact that it allows you to automatically update every day. Not only can they help you keep track of how much you’ve collected however, they can also help you track when your following payments are due.
Their dashboard also allows you to see the sales tax totals for your business. Additionally, you can export the data in the form of a CSV file, if you want to use it for your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to search for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have for other operating expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform , but also all things connected to sales tax. You can look through their guides, webinars, or blog posts for additional information. Additionally the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that 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. Even with the basic plan, you have access to their AI tax advice.
If you’re a small company manager, the plan will be ideal for you. It might not include all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for something a bit more than just the basics Professional may be the best option for you. The price starts at $99 but you can increase it by adding custom features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to opt for premium plans instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team users, and AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar And Bigcommerce
However, they did say that the plan is custom-made for every user. So the costs will vary depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to gauge whether the service is an excellent fit for you.
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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 the use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then ought to try this.
Not only will it help you track the sales and profits of your business, but it can 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 get knowledge from their seminars regarding taxes via it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar And Bigcommerce
But if handling your taxes is simple, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you’re finding the entire process easy to do and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar And Bigcommerce
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar will calculate the tax.
