Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to hire an accountant, doing it on your own can be dangerous. If you overlook one thing, you might have to do it all over again!
Nearly everyone would prefer 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 simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. Even though this is a long read, you should be able to determine if TaxJar is what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Annual Revenue
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check is that your accounting tax platform perfectly integrates with your sales channel. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. This means that there is no requirement to collect data from different channels and then organize it on a single platform. All you have to do is integrate TaxJar, then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. In this review, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on how to manage these. It is up for you and your staff to complete everything in time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything will be automated from calculating sales taxes in order to record and process them. But, it is possible to incur extra fees if not part of the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as a list of your transactions, reports and data.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. You can also export your data in the form of a CSV file in case you require it for your accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials not only for their platform but everything related to sales tax. You can check out their webinars, guides, and blog for more info. Additionally their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the best plan to help you in filing and reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a small business proprietor, then this program should be ideal for you. It may not offer all the features of TaxJar but it comes with the basic features you require.
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 a bit more than just the basics and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to go for premium plans instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited integrations with data imports, API integrations, team users and AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Annual Revenue
However, they did mention that this plan is customized for each user. So the costs will vary in line with what you require for your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to see if the platform is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it aid in tracking your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you reduce time and keep track of every deadline or requirement you need to meet. If you’re in a place with complicated tax regulations, this will surely help you wrap your head around it. TaxJar Annual Revenue
If handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure easy to complete, you might be better to do it by yourself.
FAQ TaxJar Annual Revenue
What are the areas in which TaxJar provide API support?
TaxJar currently supports 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 to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it into USUSD before TaxJar will calculate the tax.