Taxes are always one of the hardest things to do regardless of whether you run your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the funds to engage an accountant making it your own can be risky. If you make a mistake and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Black Friday
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to keep everything neat and simple. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting system seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to keep everything in place. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. This means that there is no need to collect information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar, then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to the filing of income tax returns The team will guide you on managing these. However, it will be up to you and your team to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales tax in order to record and process it. But, it is possible to incur additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you need, like an inventory of your transactions, reports, and information.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. Not only will they let you keep track of how much you’ve collected however, they can also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. Additionally, you can export your data to the form of a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar offers tutorials and training, not just for their platform , but also all things that has to do with sales tax. You can check out their webinars, guides and blog for more info. In addition the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes the tax on sales, four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small-scale company manager, the plan will be perfect for you. It may not offer all of TaxJar’s features, but it has the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for something different from the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone, API access, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to go for an upgrade instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users and AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Black Friday
However, they did mention that the plan is custom-made to each user. So the costs will vary depending on what you need for your business.
Luckily, you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to determine if the platform 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 summarize, here are the advantages and disadvantages of using 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
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- 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
- Certain countries will not be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then you ought to try this.
It’s not just a way to help you track your products and revenue, but it can help you meet the deadlines you set. This is also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can help you reduce time and keep on top of each deadline or requirement you need to meet. If you live in a place with complicated tax regulations, this will certainly help you to get your head around it. TaxJar Black Friday
But if handling your taxes is straightforward, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure simple to follow then you’re better off doing it by yourself.
FAQ TaxJar Black Friday
Which 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 to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar can calculate the tax.