Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford the funds to hire an accountant, making it yourself can be risky. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
What can we do about it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. While this is an extensive read but you’ll be able to assess whether TaxJar is what you need today.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Client Gem
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. Additionally, you can use it in all of your sales channels to ensure that you are in compliance with your sales taxes. It makes the process simpler that could 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 companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s explore their features and services.
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Features and services
Integration
One of the most important things you’ll want to check is that your accounting tax system is compatible with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one spot. That way, there’s no requirement to collect information from multiple sources and sort it into one platform. All you have to do is integrate TaxJar, and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. In our review we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect the sales channels you use. When the time is right for filing tax returns for income The team will guide you on how to handle the tax returns. However, it will be up for you and your team members to finish the tax returns within the timeframe. TaxJar will only help you understand what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff can access everything you need, like the list of transactions, reports and the data.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. Not only can they help to know the amount you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to see the sales tax totals within your company. You can also export the data to the form of a CSV file if you need it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. That means you won’t have to scramble for your documents when you’re in a pinch. Even when you already have your accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have for other operational costs.
But what’s even better is that TaxJar offers tutorials and training, not just for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides and blog for more information. Additionally, their sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small business manager, the plan should be perfect for you. It may not have all the features offered by TaxJar but it comes with all the basics you require.
In addition, you can reach their customer support via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking to get different from the basic features, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to opt for the Premium plan instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited data import integrations as well as Integrations with APIs, teams of members and AutoFiles.
There is also a team who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Client Gem
But they did state that this plan is customized for every user. The cost of the plan will be different according to what you require to run your business.
Free Trial
Luckily, you don’t have to risk your money to see if this platform is the right one for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to see whether the software is the right choice for you.
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Pros and Cons
We’ve covered everything you must know about TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it help you track your revenue and products however, it will help you meet the deadlines you set. This is also an excellent option for accountants as they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar Client Gem
If handling your taxes is straightforward, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar Client Gem
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar will calculate your tax.
