Taxes have always been among the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the funds to engage an accountant making it yourself can be dangerous. If you miss one detail it could mean you have to redo things again!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
We can always make life easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is the tool you require today.
Do you prefer to watch videos instead? Watch 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, let’s get right into it.
What is TaxJar TaxJar Chargebee
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales tax requirements. 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 as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is simple and organized. Let’s look into their features and services.
Features and services
One of the most important things you’ll want to check you have a tax accounting system perfectly integrates along with sales funnels. If you have multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar lets you display your critical metrics in one spot. This means that there is no requirement to collect data in multiple channels and sort it into a single platform. All you have to do is connect TaxJar, then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings either manually or via their AutoFile feature. For this review, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When the time is right for the filing of income tax returns The team will guide you on how to handle them. However, it will be up to you and your staff to finish the tax returns in time. TaxJar is there to guide you on what you should 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 submit any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard via this platform. From there you and your team can access everything you need, like a list of your transactions, reports, and information.
The greatest benefit of this option is the fact that it lets you to update automatically every day. Not only will they let you know 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 you to fully view the sales tax totals within your company. Additionally, you can export the data as CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them in a pinch. Even when you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just on their platform, but for anything related to sales tax. You can check out their webinars, guides, and blog for more info. In addition, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small company proprietor, then this program will be ideal for you. It may not have all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact 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 and options, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the starter plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive company, you may need to go for premium plans instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrationsfor team members, and AutoFiles.
There is also a team dedicated to managing your account. They don’t reveal how much the Premium plan will cost you. TaxJar Chargebee
However, they did say that this plan is customized for each user. Therefore, the cost will differ in line with what you require for your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is right for you. If you’re still looking into various options, they provide a 30-day free trial. It should give you enough time to see whether the software is the right choice 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 making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce 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
- Certain countries will not be able to access the API feature
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then should try this.
Not only can it help you track your revenue and products, but it can assist you in meeting the deadlines you set. This is also an excellent opportunity for accountants since they provide tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can help you reduce time and keep track of every deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this can definitely help you get your head around it. TaxJar Chargebee
However, if managing your taxes is simple, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure simple to follow, you might be better off doing it on your own.
FAQ TaxJar Chargebee
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar can calculate your tax.