Taxes are always one of the hardest things to do, whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related work aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to engage an accountant doing it on yourself 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. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can benefit you. While this is a long read it is possible to gauge whether TaxJar is the tool you require today.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Check Uploaded Csv File
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all the sales channels you use to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything simple and organized. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting platform is compatible along with sales funnels. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. That way, there’s no requirement to collect data from different channels and organize it into one platform. All you need to do is to integrate TaxJar then the system will do all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. In this review, we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on managing these. But, it is up to you and your team members to complete the process on time. TaxJar will only guide you on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team will have access to everything you require, including an inventory of your transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is they allow you to automatically update every day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the total sales tax in your business. It is also possible to export the data in CSV format. CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. It means you don’t need to scramble for your documents when you need them in a pinch. Even if you already have your accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform , but also everything connected to sales tax. You can look through their webinars, guides and blog for more information. Additionally the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan to help you with filing requirements and reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small-scale company proprietor, then this program should be perfect for you. It might not include all of TaxJar’s features but it comes with all the basics you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get a bit more than just the standard features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for the Premium plan instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations as well as API integrations, team users and AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. costs you. TaxJar Check Uploaded Csv File
However, they did mention that the plan is custom-made to each user. So the costs will vary 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 determine if this service is the right one for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of using TaxJar for your company.
- Does the plan include the 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
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it help you track your revenue and products however, it will also help you meet your deadlines. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around the subject. TaxJar Check Uploaded Csv File
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar Check Uploaded Csv File
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into US$ before TaxJar will calculate your tax.