Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to engage an accountant performing the task on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
What is the best way to deal with it?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this popular life-saving device and how it can help you. While this is lengthy it is possible to gauge whether TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Certification
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of your sales channels to ensure compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll want to check you have a tax accounting platform is compatible along with sales funnels. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one place. So, there’s no need to collect data from different channels and then organize it on one platform. All you have to do is to integrate TaxJar then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. For our review we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns The team will guide you on how to manage the tax returns. It is up for you and your team members to complete the process on time. TaxJar will only guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. There could be extra fees if not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, such as a list of your transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. Not only can they help you know how much you’ve earned however, they can also help you determine when your next payments are due.
The dashboard allows you to fully view the total sales tax within your company. You can also export the information to a CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. That means you won’t have to search for your documents whenever you’re in the event of a need. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform , but also for anything related to sales tax. Check out their webinars, guides as well as their blog to find more details. Apart from that the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the most suitable plan for you 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 the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small company manager, the plan could be ideal for you. It may not have all the features of TaxJar, but it has the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration features.
Professional
If you’re looking for something different from the standard features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you have a massive company, you may need to choose premium plans instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited integrations with data imports as well as API integrations, team members, and AutoFiles.
They also have a staff dedicated for managing the account. But, they don’t divulge how much the Premium plan will cost you. TaxJar Certification
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different depending on what you need for your company.
Free Trial
Luckily, you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to determine whether the software is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform companies that have many sales channels and utilizes numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they have the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this can certainly help you to get your head around the subject. TaxJar Certification
If handling taxes is easy, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure easy to complete, you might be better in doing it all by yourself.
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FAQ TaxJar Certification
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, 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.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar can calculate your tax.
