Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have any experience 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 enough money to employ an accountant, doing it on your own could be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skip this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. Even though this is lengthy but you’ll be able to determine if TaxJar is the tool you require in the present.
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.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Bigcommerce
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is neat and simple. Let’s explore their features and services.
Services and features
One of the first things you’ll want to check you have a tax accounting software perfectly integrates with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your most important metrics in one spot. So, there’s no need to gather data from different channels and then organize it on one platform. All you need to do is integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes either manually or via their AutoFile feature. In our review we’ll dig at both.
If you choose to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on how to manage them. But, it is up for you and your staff to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating sales tax through recording, and then processing it. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team can access everything you require, including a list of your transactions, reports, and the data.
The greatest benefit of this option is the fact that they allow 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 determine when your next payments are due.
The dashboard allows users to view in detail the overall sales taxes in your business. Additionally, you can export your data in the form of a CSV file in case you require it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to search for your documents whenever you’re when you’re in a pinch. Even if you already have your accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operating expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform but for anything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more information. Additionally, their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. For this reason we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance in filing and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small-scale business proprietor, then this program will be perfect for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
In addition, you can reach their support team with their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for something a bit more than just the basics and options, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to choose the Premium plan instead. It includes all of the features you need to make your tax filing easier. In addition, they offer unlimited import integrations of data, API integrations, team members as well as AutoFiles.
They also have a staff that is devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Bigcommerce
But they did state that the plan is custom-made for every user. Therefore, the cost will differ according to what you require for your company.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to gauge whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a break. To sum it all up Here are the pros and cons of the use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is easy 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only can it assist you in keeping track of your products and revenue however, it will assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they offer a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your head around it. TaxJar Bigcommerce
If handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure simple to follow then you’re better off doing it by yourself.
FAQ TaxJar Bigcommerce
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in US$. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar determines your tax.