Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have a background in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to engage an accountant doing it on your own can be dangerous. If you miss one detail it could mean you need to repeat the process!
Almost everyone wants to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can assist you. Although this is quite a long read it is possible to determine if TaxJar is what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar TaxJar Check O Calculate In All Tax Jurisdictions
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it in all of your channels of sales to make sure you’re in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting software perfectly integrates along with sales funnels. 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 missing a single minor point.
TaxJar allows you to show your critical data in one location. That way, there’s no need to gather information from multiple sources and sort it into a single platform. All you need to do is connect TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. When the time is right for filing income tax returns The team will guide you on managing the tax returns. But, it is up for you and your team members to complete the process on time. TaxJar is only there to guide you on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing it. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you require, including the list of transactions, reports, and data.
The best part about this option is the fact that it lets you to automatically update every day. Not only can they help to know the amount you’ve collected, but they also help you track when your following payment is due.
Their dashboard can also allow you to see the overall sales taxes for your business. Additionally, you can export the information to the form of a CSV file if you need it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even even if you already have an accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operational expenses.
The best part is that TaxJar provides training and tutorials not only for their platform but all things related to sales tax. You can check out their guides, webinars, or blog posts for additional information. Additionally the sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the most effective plan if you need help with filing requirements or reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller company owner, this plan should be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for something that is more than the standard features, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up if you add custom features.
How different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to opt for premium plans instead. It has all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited data import integrations API integrations, team users, and AutoFiles.
They also have a staff dedicated for managing the account. But, they don’t divulge the price of the Premium plan. costs you. TaxJar Check O Calculate In All Tax Jurisdictions
But they did state that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need for your business.
Fortunately, you don’t need to bet your life on it to determine if this service is the right one for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, 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 help you meet the deadlines you set. This is also an excellent option for accountants as they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax regulations, this will definitely help you get your mind around it. TaxJar Check O Calculate In All Tax Jurisdictions
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire process easy to do then you’re better to do it by yourself.
FAQ TaxJar Check O Calculate In All Tax Jurisdictions
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it to USdollars before TaxJar can calculate your tax.