Taxes are always one of the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the funds to engage an accountant making it your own could be risky. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can assist you. While this is a long read but you’ll be able to determine if TaxJar is the tool you require right now.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Boston Office
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all your sales channels to ensure compliance with sales tax requirements. It makes the process simpler that could require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. That way, there’s no requirement to collect data from different channels and sort it into one platform. All you have to do is to integrate TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. For our review we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing income tax returns The team will guide you on managing them. But, it is up to you and your team to complete everything within the timeframe. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. With this feature, everything will be automated from calculating sales tax through recording, and then processing it. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your team will have access to all the information you need, such as a list of your transactions, reports, as well as the data.
The most appealing aspect of this feature is that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated however, they can also help you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax in your business. Additionally, you can export your data as the form of a CSV file if you need it in your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar offers training and tutorials not only for their platform , but also all things that has to do with sales tax. You can look through their webinars, guides, and blog for more info. Additionally the sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that 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 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a smaller company manager, the plan could be ideal for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration features.
If you’re looking for a bit more than just the standard features Professional could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the starter 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, phone support, and sophisticated CSV import. You can also have 12 free AutoFiles each year.
If you have a massive business, you might need to choose the Premium plan instead. It has all of the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Boston Office
However, they did mention that this plan is customized to each user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to risk your money to see if this platform is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to see whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. 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 can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- 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
- Certain countries will not be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to help you track your products and revenue however, it will help you meet the deadlines you set. It’s also an excellent option for accountants as they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar will help you save more time while keeping track of every deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your mind around it. TaxJar Boston Office
If handling your taxes is simple, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow then you’re better off doing it by yourself.
FAQ TaxJar Boston Office
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to US$ before TaxJar determines your tax.