Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. If you don’t have enough money to engage an accountant making it your own can be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to skipping this step. But since it’s required and mandatory, there’s no other choice.
What can we do ?
We can always make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can benefit you. Even though this is a long read but you’ll be able to gauge whether TaxJar is the tool you require today.
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.
But for those who prefer to read, let’s get right into it.
What is TaxJar? TaxJar California Past Year
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your channels of sales 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 used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to ensure is that your accounting tax software is compatible along with sales funnels. If you’re selling through multiple channels, you must 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 most important metrics in one place. This means that there is no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is integrate TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through their AutoFile feature. For this review, we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to the filing of income tax returns The team will guide you on how to manage them. However, it will be up to you and your team to complete everything within the timeframe. TaxJar will only guide you on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating taxes on sales to recording and processing them. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your staff will have access to all the information you require, including a list of your transactions, reports, and information.
The best part about this feature is that it allows you to automatically update every day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
The dashboard allows users to view in detail the sales tax totals in your business. You can also export the data to the form of a CSV file if you need it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even when you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operational costs.
What’s more is that TaxJar provides 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 or blog posts for additional information. Additionally their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help in filing and reporting. It includes sales tax reporting, four autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale business manager, the plan could be perfect for you. It may not offer all of TaxJar’s features, but it has the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for a bit more than just the basics Professional could be the one for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to go for premium plans instead. It comes with all the features that you require to aid in your tax preparation. In addition, they offer 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. will cost you. TaxJar California Past Year
However, they did say that this plan is tailor-fit for every user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to risk your money to determine if this service is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is the right choice for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- 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
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes many platforms. If that’s what you do, then you should try this.
It’s not just a way to help you track your products and revenue It can help you meet your deadlines. It is also a great option for accountants as they have a Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you get more done while keeping track of every deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this can definitely help you get your mind around it. TaxJar California Past Year
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole process easy to do, you might be better to do it by yourself.
FAQ TaxJar California Past Year
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions are in USdollars. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar will calculate your tax.