Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly 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!
Almost everyone wants to avoid this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can benefit you. Even though this is lengthy but you’ll be able to assess whether TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar TaxJar Calculator
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to make sure you have a tax accounting system seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to display your key metrics in one spot. That way, there’s no requirement to collect data from different channels and organize it into a single platform. All you need to do is to integrate TaxJar it will do the rest.
Apart from 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 submit their sales tax by hand or using their AutoFile feature. For the purpose of this article, we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to filing tax returns for income TaxJar will train you on how to manage these. It is up for you and your team members to complete everything in time. TaxJar is only there to help you understand what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating sales tax to recording and processing it. However, there might be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you need, like the list of transactions, reports, as well as information.
The best part about the feature you’ve chosen is they allow you to automatically update every day. They not only let you know how much you’ve earned however, they can also help you keep track of when the next payments are due.
The dashboard allows users to view in detail the overall sales taxes within your company. It is also possible to export your data to a CSV file if you need it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even if you already have your accountant, this function will make them 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 be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. You can look through their webinars, guides and blog for more info. In addition their sales tax calculator is useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small business proprietor, then this program should be perfect for you. It might not include all the features offered by TaxJar, but it has all the basics you require.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get that is more than the basics Professional could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge company, you may need to go for an upgrade instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports, API integrationsfor team users, and AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the price of the Premium plan. costs you. TaxJar Calculator
But they did state that the plan is custom-made to each user. The cost of the plan will be different depending on what you need to run your business.
Fortunately, you don’t need to risk your money to see if this platform is for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of making use of TaxJar for your business.
- There is the 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 simple to navigate
- Offers a 30-day free trial
- It can 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 have access to the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you should try this.
It’s not just a way to aid in tracking the sales and profits of your business It can assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they offer 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 requirement you have to fulfill. If you’re in a region with a lot of tax laws, this will definitely help you get your head around it. TaxJar Calculator
If handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure easy to complete then you’re better off doing it by yourself.
FAQ TaxJar Calculator
What areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n US$. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar determines your tax.