Taxes have always been one of the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related work aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford enough money to hire an accountant, making it yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
What can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. Even though this is a long read but you’ll be able to assess whether TaxJar is what you need right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Company Reviews
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s explore their features and services.
Services and features
One of the first things you’ll need to make sure you have a tax accounting software is compatible with your sales channel. If you have multiple sales 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 allows you to show your key data in one location. So, there’s no requirement to collect information from multiple sources and then organize it on a single platform. All you need to do is connect TaxJar, and the platform will do all the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. In our review we’ll take a look at both.
If you decide to manually file your tax returns, 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 guide you on how to manage these. However, it will be up for you and your team members to complete everything within the timeframe. TaxJar is there to help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating taxes on sales to recording and processing it. However, there might be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you need, such as a list of your transactions, reports and data.
The most appealing aspect of this feature is that it allows you to automatically update every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the overall sales taxes within your company. It is also possible to export the information to a CSV file, if you want to use it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to search for your documents when you need them in a pinch. Even when you already have your accountant, this function can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar offers training and tutorials not only on their platform, but for anything related to sales tax. You can look through their webinars, guides, or blog posts for additional information. Additionally their sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements or reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller company owner, this plan will be ideal for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for something that is more than the basic features, then the Professional plan might be the right 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 all of the Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to choose premium plans instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited import integrations of data, API integrations, team users, and AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Company Reviews
However, they did mention 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.
Luckily, you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to see whether the software is a good fit for you.
Pros and Pros and
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 pros and cons of the use of TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access 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 many sales channels and utilizes plenty of platforms. If that’s what you do, then you must try TaxJar.
It’s not just a way to help you track the sales and profits of your business It can also help you meet your deadlines. It is also a great option for accountants as they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of 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 place with complicated tax laws, this can definitely help you get your head around the subject. TaxJar Company Reviews
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure simple to follow, you might be better to do it by yourself.
FAQ TaxJar Company Reviews
Which areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into USUSD before TaxJar can calculate the tax.