Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, making it yourself can be dangerous. If you miss one detail, you might need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required, we have no choice.
So what can we do about it?
We can make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is lengthy, you should be able to assess whether TaxJar is the tool you require in the present.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Cbd
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, 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 ensure compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting software perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your key data in one location. That way, there’s no requirement to collect data from different channels and organize it into one platform. All you have to do is to integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes manually or through the AutoFile feature. For our review we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to handle them. However, it will be up for you and your team to complete everything in time. TaxJar is only there to help you understand what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating sales tax through recording, and then processing them. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with 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 team can access everything you require, including the list of transactions, reports, and information.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. They not only let you keep track of how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the sales tax totals for your business. You can also export the information to a CSV file if you need it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. It means you don’t need to scramble for your documents whenever you’re in the event of a need. Even if you already have your accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds better. You’ll know better how much budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials not only on their platform, but all things that has to do with sales tax. Check out their guides, webinars, or blog posts for additional info. In addition the sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan if you need help in filing and reporting. It includes sales tax reporting, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax advice.
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.
In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for something different from the standard features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it if you add custom features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to go for premium plans instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports API integrations, team users as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Cbd
However, they did mention that this plan is customized for every user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you should try this.
It’s not just a way to assist you in keeping track of your products and revenue, but it can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they offer tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar will help you get more done while keeping on top of each deadline and obligation you have to meet. If you live in an area with complex tax laws, this will definitely help you get your head around the subject. TaxJar Cbd
But if handling your taxes is simple, then TaxJar may be an unnecessary 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 find the entire procedure easy to complete, you might be better to do it by yourself.
FAQ TaxJar Cbd
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions are in US$. If you’re using another currency, you’ll have to convert it to US$ before TaxJar can calculate your tax.