Taxes have always been one of the hardest things to do, whether you’re running your own business or not. More so if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, making it your own can be dangerous. If you miss one detail it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement, we have no choice.
So what can we do ?
It is always possible to make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can help you. Although this is quite an extensive read it is possible to assess whether TaxJar is what you need right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What is TaxJar TaxJar Billing
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax software perfectly integrates with your sales channel. If you have multiple sales channels, you need to keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key data in one location. So, there’s no need to collect data in multiple channels and organize it into one platform. All you need to do is to integrate TaxJar, then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using the AutoFile feature. In this review, we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing tax returns for income, the team will instruct you on managing them. It is up for you and your staff to finish the tax returns on time. TaxJar is there to provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. This feature will ensure that everything is automated, from calculating sales tax in order to record and process them. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your team will have access to everything you need, such as an inventory of your transactions, reports, and data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only will they let you know how much you’ve collected, but they also help you keep track of when the next payments are due.
The dashboard allows you to see the total sales tax within your company. You can also export the information in a CSV file if you need it to aid in financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to hunt for your paperwork when you’re in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform , but also everything connected to sales tax. You can check out their webinars, guides, or blog posts for additional details. Apart from that the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale business manager, the plan will be perfect for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for something a bit more than just the basic features, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher when you add additional features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to go for the Premium plan instead. It has all of the features you need to aid in your tax preparation. Additionally, they permit unlimited import integrations of data, API integrationsfor team users and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Billing
But they did state that this plan is tailor-fit for every user. So the costs will vary in line with what you require to run your business.
It’s a good thing that you don’t have to bet your life on it to find out if the 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 gauge whether the software is the right choice for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple 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 recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. It is also a great option for accountants as they provide tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
The use of TaxJar can help you get more done while keeping the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this will certainly help you to get your head around the subject. TaxJar Billing
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure simple to follow then you’re better in doing it all by yourself.
FAQ TaxJar Billing
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to US$ before TaxJar can calculate your tax.