Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have the funds to hire an accountant, performing the task on your own can be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Even though this is lengthy, you should be able to assess whether TaxJar is exactly what you need right now.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Charge For Importing Prior Years?
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is 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 is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting platform is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your key metrics in one spot. This means that there is no need to collect data from different channels and sort it into one platform. All you have to do is integrate TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms that they can connect with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. For this review, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns The team will guide you on how to handle the tax returns. But, it is up for you and your team members to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. Through this feature, everything will be automated from calculating sales tax to recording and processing it. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. From there, you and your team can access everything you need, such as the list of transactions, reports, and information.
The best part about this option is the fact that it lets you to update automatically every day. They not only let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows you to see the overall sales taxes for your business. You can also export the data to the form of a CSV file in case you require it in your financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them in a pinch. 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 can help you allocate your funds better. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but everything related to sales tax. You can look through their guides, webinars, as well as their blog to find more info. Additionally, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They claim that it’s the best plan if you need help in filing and reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small business proprietor, then this program 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. Additionally, you’ll have access to their integration features.
If you’re looking for a bit more than just the basics and options, then the Professional plan might be the right one for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive business, you might 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 data import integrations API integrationsfor team users as well as AutoFiles.
They also have a team dedicated for managing the account. But, they don’t divulge how much the Premium plan will cost you. TaxJar Charge For Importing Prior Years?
However, they did say that this plan is customized for each user. Therefore, the cost will differ depending on what you need for your business.
It’s a good thing that you don’t have to bet your life on it to determine if this service is right for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to see whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform businesses with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you should try this.
Not only will it help you track the sales and profits of your business, but it can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they have a Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
The use of TaxJar can help you get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re in an area with complex tax laws, this will certainly help you to get your head around it. TaxJar Charge For Importing Prior Years?
But if handling your taxes is simple If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Charge For Importing Prior Years?
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar determines your tax.