Taxes are always one of the most difficult things to handle regardless of whether you run an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. In the event that you do not have the budget to employ an accountant, doing it on your own could be dangerous. If you overlook one thing, you might have to do it all over again!
Most people want to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. While this is an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Brick Mortar
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your channels of sales to ensure compliance with sales taxes. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is that your accounting tax system perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to display your key metrics in one spot. That way, there’s no need to gather information from multiple sources and sort it into one platform. All you need to do is integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers submit their sales tax either manually or via their AutoFile feature. For our review we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns TaxJar will train you on how to handle them. However, it will be up to you and your team to complete the process on time. TaxJar is there to provide guidance on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing them. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. 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 staff will have access to everything you need, such as a list of your transactions, reports, as well as the data.
The best part about this option is the fact that it allows you to automatically update every day. Not only will they let you keep track of how much you’ve accumulated, but they also help you track when your following payment is due.
Their dashboard can also allow you to see the total sales tax in your business. You can also export your data to the form of a CSV file if you need it in your accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to search for your documents when you need them in a pinch. Even even if you already have an accountant, this feature will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your money more efficiently. You’ll be aware of the budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training not only for their platform , but also for anything connected to sales tax. You can look through their guides, webinars, and blog for more information. Additionally the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing tiers and what each of those plans can offer. Presently, 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 or reporting. It also includes the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller company proprietor, then this program could be perfect for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking for that is more than the standard features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to opt for an upgrade instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited import integrations of data as well as API integrations, team members as well as AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Brick Mortar
However, they did mention that the plan is custom-made to each user. So the costs will vary depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to determine whether the software is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable 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 that have many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you should try this.
Not only can it assist you in keeping track of your revenue and products, but it can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they offer tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Brick Mortar
If handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the whole process easy to do then you’re better in doing it all on your own.
FAQ TaxJar Brick Mortar
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as 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 facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar will calculate your tax.