Taxes are always 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 degree in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the budget to engage an accountant performing the task on your own could be dangerous. If you overlook one thing, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do ?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can help you. While this is an extensive read, you should be able to assess whether TaxJar is exactly what you need in the present.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar Basic Plan
In 2013, TaxJar was established. 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. Additionally, you can use it across all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one place. This means that there is no requirement to collect information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar it will take care of all the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. For our review we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns TaxJar will train you on managing them. It is up for you and your staff to complete everything within the timeframe. TaxJar is only there to help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating taxes on sales to recording and processing them. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via 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, as well as the data.
The best part about this feature is that it allows you to update automatically every day. They not only let to know the amount you’ve collected however, they can also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the sales tax totals in your business. Additionally, you can export the data in a CSV file in case you require it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have available for other operational expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform , but also for anything connected to sales tax. You can look through their webinars, guides, and blog for more info. In addition their sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing levels and what each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a smaller company owner, this plan could be perfect for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for that is more than the basics and options, then the Professional plan 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 starter plan?
Apart from having access to every one of Starter plan’s features, you also have their support via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you have a massive enterprise, you may want to choose premium plans instead. It includes all of the features needed to make your tax filing easier. Moreover, they allow unlimited data import integrations API integrations, team members and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Basic Plan
However, they did say that the plan is custom-made for every user. So the costs will vary according to what you require to run your business.
Free Trial
Fortunately, you don’t need to risk your money to determine if this service is right 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 if the platform is the right choice for you.
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Pros and Cons
After we’ve gone over everything you must be aware of TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of using TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated 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 be able to access 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 down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it aid in tracking the sales and profits of your business, but it can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax regulations, this will definitely help you get your head around it. TaxJar Basic Plan
If handling your taxes is simple 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 track all of it. If you find the entire procedure simple to follow, you might be better to do it on your own.
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FAQ TaxJar Basic Plan
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar will calculate the tax.
