Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, especially when you’re full of things to be done. In the event that you do not have the budget to employ an accountant, doing it on your own can be risky. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to avoid this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Although this is quite lengthy, you should be able to assess whether TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar And Resale Certificate
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to make sure you’re in compliance with sales tax requirements. It streamlines processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax platform perfectly integrates along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important data in one location. So, there’s no need to gather data in multiple channels and organize it into one platform. All you need to do is integrate TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to submit their sales tax by hand or using the AutoFile feature. For our review we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns The team will guide you on how to handle the tax returns. But, it is up to you and your team to complete the process within the timeframe. TaxJar is only there to guide you on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything will be automated from calculating sales taxes through recording, and then processing them. There could be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is they allow you to update automatically every day. They not only let you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the sales tax totals in your business. You can also export the data as a CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds better. You’ll know better how much budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training not only for their platform , but also all things that has to do with sales tax. Check out their guides, webinars, or blog posts for additional information. Additionally the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the most effective plan if you need help in filing and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale company proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for that is more than the basic features, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher when you add additional features.
How different is it from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone, API access, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large business, you might need to choose the Premium plan instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited data import integrations as well as API integrationsfor team members, and AutoFiles.
They also have a staff dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. TaxJar And Resale Certificate
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require for your business.
Luckily, you don’t have to risk your money to determine if this service is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is a good fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- 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.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you must try TaxJar.
Not only will it aid in tracking the sales and profits of your business It can assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they provide tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you reduce time and keep the track of each deadline and requirement you have to meet. If you’re living in an area with complex tax laws, this will surely help you wrap your mind around it. TaxJar And Resale Certificate
But if handling taxes is easy, then TaxJar could be a waste of expense. If you’re only dealing with 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, you might be better to do it on your own.
FAQ TaxJar And Resale Certificate
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar will calculate the tax.