Taxes have always been among the hardest things to do, whether you’re running a business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to hire an accountant, doing it on yourself can be dangerous. If you overlook one thing, you might have to redo things again!
Almost everyone wants to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
What is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
This article will take a look at this popular life-saving device and how it can benefit you. Even though this is a long read, you should be able to assess whether TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Basic Square
In 2013, TaxJar was established. TaxJar is a platform that helps automate 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 sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that take 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.
How can it help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s look into their features and services.
Services and features
One of the first things you’ll want to check is that your accounting tax platform is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. So, there’s no need to gather information from multiple sources and then organize it on a single platform. All you need to do is integrate TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to submit their sales tax either manually or via their AutoFile feature. In this review, we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns The team will guide you on how to manage the tax returns. It is up for you and your team to complete the process within the timeframe. TaxJar is there to guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating sales taxes in order to record and process them. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your team will have access to all the information you require, including the list of transactions, reports, and information.
The most appealing aspect of this option is the fact that they allow you to automatically update every day. Not only will they let you keep track of how much you’ve earned, but they also help you determine when your next payment is due.
Their dashboard can also allow you to see the total sales tax for your business. Additionally, you can export the information in the form of a CSV file, if you want to use it for your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also for anything related to sales tax. You can check out their webinars, guides, as well as their blog to find more details. In addition the sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine 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 what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the best plan if you need help in filing and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller business owner, this plan will be perfect for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basic features, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up by adding custom features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to choose premium plans instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of users, and AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Basic Square
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ depending on what you need to run your business.
It’s a good thing that you don’t have to bet your life on it to determine if this service is for you. If you’re still looking into different options, they offer 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 must be aware of TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of using TaxJar for your company.
- 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.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several 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.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then you should try this.
Not only can it help you track the sales and profits of your business, but it can assist you in meeting your deadlines. This is also an excellent option for accountants as they have the Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax laws, this can certainly help you to get your head around the subject. TaxJar Basic Square
If handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure easy to complete, you might be better in doing it all by yourself.
FAQ TaxJar Basic Square
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into USUSD before TaxJar will calculate your tax.