Taxes are always one of the hardest things to do regardless of whether you’re running a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the budget to engage an accountant performing the task on yourself can be dangerous. If you miss one detail and you don’t know it, you may have to redo things again!
Most people want to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do ?
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 assist you. While this is lengthy but you’ll be able to assess whether TaxJar is what you need today.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Ca
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s look into their features and services.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax platform is compatible with your sales channel. If you have multiple sales channels, it is essential to maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. That way, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you have to do is integrate TaxJar, and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. In the purpose of this article, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on how to manage these. However, it will be up for you and your staff to finish the tax returns within the timeframe. TaxJar will only help you understand what you need 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. With this feature, everything will be automated from calculating sales tax through recording, and then processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you require, including the list of transactions, reports, and data.
The best part about this feature is that it lets you to automatically update every day. Not only can they help to know the amount you’ve accumulated however, they can 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 the information in a CSV file in case you require it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the sales avenues you use. It means you don’t need to scramble for your documents when you’re in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform but all things that has to do with sales tax. You can check out their webinars, guides, and blog for more details. In addition 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 determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It also includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small company manager, the plan should be perfect for you. It might not include all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for something a bit more than just the basics, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of members and AutoFiles.
They also have a team who are devoted to managing your account. They don’t reveal the price of the Premium plan. costs you. TaxJar Ca
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need to run your business.
Luckily, you don’t have to risk your money to find out if the platform is right for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to see if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it 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 applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it help you track your revenue and products, but it can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can definitely help you get your head around it. TaxJar Ca
But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure easy to complete, you might be better off doing it by yourself.
FAQ TaxJar Ca
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like 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 with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar determines the tax.