Taxes have always been one of the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford the funds to engage an accountant making it your own can be risky. If you miss one detail it could mean you have to do it all over again!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can help you. Even though this is a long read but you’ll be able to determine if TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar TaxJar And Godaddy
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your channels of sales to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to keep everything organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting software is compatible with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar lets you display your most important data in one location. That way, there’s no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar then the system will do the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. In this review, we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on how to manage these. But, it is up to you and your staff to complete everything within the timeframe. TaxJar will only guide you on what you need to 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 fill out any forms manually. This feature will ensure that 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 chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you require, including an inventory of your transactions, reports, and the data.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. Not only will they let you keep track of how much you’ve accumulated, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to see the overall sales taxes in your business. Additionally, you can export your data in CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to scramble for your documents when you’re in the event of a need. Even when you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you 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 and tutorials, not just for their platform but for anything related to sales tax. Check out their guides, webinars, as well as their blog to find more information. Apart from that the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It also includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small-scale business proprietor, then this program could be ideal for you. It may not have 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 features.
If you’re looking for different from the basics Professional might be the right one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the basic plan?
Apart from having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to go for an upgrade instead. It has all of the features you need to make your tax filing easier. Moreover, they allow unlimited data import integrations as well as Integrations with APIs, teams of members, and AutoFiles.
There is also a team who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar And Godaddy
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require to run your business.
Luckily, you don’t have to bet your life on it to determine if this service is 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 determine whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of making use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help 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
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue however, it will also help you meet your deadlines. This is also an excellent opportunity for accountants since they have a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline and requirement you have to meet. If you’re in a place with complicated tax laws, this can definitely help you get your head around the subject. TaxJar And Godaddy
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar And Godaddy
What areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to US$ prior to when TaxJar can calculate the tax.