Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have the budget to employ an accountant, doing it on your own could be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. Although this is quite a long read, you should be able to assess whether TaxJar is what you need right now.
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, then let’s get right into it.
What is TaxJar? TaxJar Ceo
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. That way, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar, it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to file their sales taxes manually or through the AutoFile feature. For this review, we’ll dig into both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income The team will guide you on how to manage them. It is up for you and your staff to complete the process within the timeframe. TaxJar is only there to provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything is automated, from calculating sales taxes through recording, and then processing it. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you require, including a list of your transactions, reports, and data.
The best part about this feature is that they allow 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 determine when your next payment is due.
The dashboard allows users to view in detail the sales tax totals in your business. You can also export the data to a CSV file in case you require it in your accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have 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.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar provides training and tutorials, not just on their platform, but everything that has to do with sales tax. You can check out their webinars, guides, and blog for more info. In addition the sales tax calculator can be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the best plan if you need help in filing and reporting. It also includes the tax on sales, four autofiles for free each year, and an CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller business manager, the plan should be ideal 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 email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get different from the standard features and options, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the starter plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to opt for an upgrade instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations API integrationsfor team users as well as AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose how much the Premium plan will cost you. TaxJar Ceo
But they did state that this plan is tailor-fit to each user. The cost of the plan will be different depending on what you need for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to see whether the software is a good fit for you.
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Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a breather. To summarize Here are the pros and cons of the use of TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Has 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
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then you ought to try this.
Not only can it help you track your revenue and products It can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you save more time while keeping track of every deadline and obligation you have to fulfill. If you’re in a region with a lot of tax regulations, this will definitely help you get your mind around it. TaxJar Ceo
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole process easy to do, you might be better off doing it by yourself.
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FAQ TaxJar Ceo
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in USdollars. If you’re using a different currency, you will need to convert it into USUSD before TaxJar will calculate the tax.
