Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the budget to employ an accountant, doing it on your own could be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. While this is an extensive read but you’ll be able to assess whether TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What exactly is TaxJar? TaxJar And Quickbooks
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could require days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax platform is compatible with your sales channel. If you have multiple sales channels, you need to keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar lets you display your key metrics in one place. So, there’s no need to gather data from different channels and organize it into one platform. All you need to do is integrate TaxJar then the system will do all the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings by hand or using TaxJar’s AutoFile feature. For this review, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing tax returns for income The team will guide you on how to manage them. It is up for you and your team members to complete everything on time. TaxJar is only there to help you understand what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. Through this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be combined 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 an inventory of your transactions, reports and information.
The best part about this feature is that it allows you to automatically update every day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to fully view the overall sales taxes within your company. It is also possible to export the information in a CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount 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.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform , but also everything related to sales tax. You can look through their guides, webinars, or blog posts for additional details. Additionally their sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most suitable plan for you if you need help in filing and reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller business manager, the plan should be ideal for you. It may not have all the features of TaxJar, but it has all the basics you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration features.
Professional
If you’re looking to get that is more than the basics and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up if you add custom features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you run a large enterprise, you may want to opt for an upgrade instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data API integrationsfor team users, and AutoFiles.
They also have a team that is devoted to managing your account. But, they don’t divulge how much the Premium plan will cost you. TaxJar And Quickbooks
However, they did say that this plan is tailor-fit to each user. So the costs will vary depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see whether the software is the right choice for you.
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Pros and Cons
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you must try TaxJar.
Not only can it help you track the sales and profits of your business, but it can also help you meet your deadlines. This is also an excellent option for accountants as they have the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar will help you save more time while keeping on top of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this can certainly help you to get your head around it. TaxJar And Quickbooks
If handling your taxes is straightforward and straightforward, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure simple to follow then you’re better to do it on your own.
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FAQ TaxJar And Quickbooks
What areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it to US$ before TaxJar determines the tax.
