Taxes have always been among the hardest things to do regardless of whether you run a business or not. More so if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. If you don’t have the budget to employ an accountant, doing it on your own can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can assist you. While this is lengthy, you should be able to determine if TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Com
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. This means that there is no requirement to collect data from different channels and organize it into one platform. All you need to do is connect TaxJar it will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. For this review, we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to handle these. But, it is up to you and your team members to complete everything within the timeframe. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales taxes through recording, and then processing them. There could be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your team can access everything you need, like an inventory of your transactions, reports, and data.
The best part about the feature you’ve chosen is it allows you to update automatically every day. They not only let you know how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
The dashboard allows you to fully view the overall sales taxes in your business. You can also export the information as CSV format. CSV file if you need it to aid in accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even if you already have your accountant, this function 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 know better how much budget you have available for other operational costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything that has to do with sales tax. You can look through their webinars, guides or blog posts for additional details. In addition their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most effective plan to help you in filing and reporting. It includes the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small business proprietor, then this program will 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 the support team via their email support chart. Additionally, you’ll have access to their integration tools.
Professional
If you’re looking for a bit more than just the standard features, then the Professional plan may be the best option for you. The price starts 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 all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large business, you might need to opt for premium plans instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of members as well as AutoFiles.
There is also a team that is devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. TaxJar Com
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
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 the opportunity to try a free trial for 30 days. This should give you enough time to see if the platform is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then you should try this.
Not only can it aid in tracking your revenue and products It can help you meet your deadlines. It is also a great opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline and requirement you have to fulfill. If you’re living in an area with complex tax laws, this will definitely help you get your head around it. TaxJar Com
If handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar Com
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in US$. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar can calculate the tax.
