Taxes are always one of the most difficult things to handle 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 work can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the budget to engage an accountant making it yourself can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
What is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. While this is a long read it is possible to gauge whether TaxJar is what you need right now.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Bbb
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been 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 online business owners to keep everything simple and organized. Let’s explore their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting platform is compatible in conjunction with the sales channels you use. If you have 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 missing a single minor point.
TaxJar allows you to show your key metrics in one place. This means that there is no requirement to collect data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar, it will handle all the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers submit their sales tax either manually or via TaxJar’s AutoFile feature. For our review we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income TaxJar will train you on managing these. It is up for you and your team to complete the process in time. TaxJar is only there to guide you on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes in order to record and process them. There could be extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you need, such as a list of your transactions, reports, and information.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. Not only will they 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 can also allow you to see the overall sales taxes within your company. Additionally, you can export your data in the form of a CSV file if you need 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 the track of all your sales channels. It means you don’t need to search for your documents whenever you’re in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount 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.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but for anything connected to sales tax. You can check out their guides, webinars, as well as their blog to find more info. Apart from that, their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan to help you with filing requirements or reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small business proprietor, then this program could be perfect for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get a bit more than just the standard features Professional could be the one for you. The price starts at $99 however, it could go up by adding custom features.
How different is it from the basic plan?
Apart from having access to all of the Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to go for an upgrade instead. It has all of the features needed to aid in your tax preparation. Moreover, they allow unlimited import integrations of data, API integrations, team members as well as AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal the price of the Premium plan. costs you. TaxJar Bbb
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for your business.
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one 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 service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of the use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then should try this.
Not only will it aid in tracking your products and revenue It can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline and requirement you have to meet. If you’re in a place with complicated tax regulations, this will certainly help you to get your head around the subject. TaxJar Bbb
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Bbb
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link 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 transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar can calculate the tax.