Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when you’re packed with things to do. If you don’t have enough money to employ an accountant, performing the task on your own could be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. While this is an extensive read, you should be able to gauge whether TaxJar is what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar Categories
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting software perfectly integrates along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important data in one location. 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 take care of the rest.
In addition, 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 TaxJar’s AutoFile feature. For 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 those sales tools. When the time is right for filing income tax returns TaxJar will train you on managing them. It is up to you and your team members to finish the tax returns in time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales to recording and processing them. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, like a list of your transactions, reports, and data.
The best part about this feature is that they allow you to update automatically every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow users to view in detail the overall sales taxes within your company. You can also export your data as the form of a CSV file, if you want to use it for your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to search for your documents when you’re in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operating costs.
The best part is that TaxJar offers tutorials and training, not just for their platform , but also everything connected to sales tax. You can look through their webinars, guides or blog posts for additional information. Apart from that the sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing structures 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. They claim that it’s the most effective plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small company proprietor, then this program should be ideal for you. It may not offer all of TaxJar’s features, but it has the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basic features Professional might be the right one for you. The price 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 having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose an upgrade instead. It includes all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations API integrationsfor team members, and AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. TaxJar Categories
But they did state that this plan is customized for every user. Therefore, the cost will differ in line with what you require for your company.
It’s a good thing that you don’t have to bet your life on it to determine if this service is the right one 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 determine if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a break. To summarize we’ll go over the pros and cons of the use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then ought to try this.
It’s not just a way to assist you in keeping track of your products and revenue however, it will also help you meet the deadlines you set. It is also a great option for accountants as they provide tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this can surely help you wrap your mind around it. TaxJar Categories
If handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do, you might be better in doing it all on your own.
FAQ TaxJar Categories
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in US$. If you’re using a different currency, you will need to convert it to USdollars before TaxJar can calculate your tax.