Taxes have always been one of the hardest things to do, whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford the budget to employ an accountant, doing it on your own could be risky. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can help you. While this is lengthy it is possible to gauge whether TaxJar is exactly what you need in the present.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Connetcitt
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your channels of sales to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by owners of online businesses to keep everything organized and straightforward. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to ensure you have a tax accounting system seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. So, there’s no need to gather information from multiple sources and organize it into a single platform. All you have to do is to integrate TaxJar it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to file their sales taxes either manually or via the AutoFile feature. In our review we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns The team will guide you on how to manage them. But, it is up to you and your team to finish the tax returns within the timeframe. TaxJar will only help you understand what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated from calculating sales tax in order to record and process them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting woes. The orders you place through your online channels can be combined into a single dashboard via this platform. From there you and your staff can access everything you require, including a list of your transactions, reports and information.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard can also allow you to fully view the sales tax totals in your business. Additionally, you can export your data to CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have available for other operating costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything connected to sales tax. You can check out their webinars, guides, or blog posts for additional info. Apart from that, their sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and what each of these plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements or reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter 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 the features offered by TaxJar but it comes with the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for a bit more than just the basic features Professional could be the one for you. The price starts at $99 but you can increase it by adding custom features.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s options, you also have access to their phone customer support, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large business, you might need to opt for an upgrade instead. It comes with all the features you need to make your tax filing easier. Moreover, they allow unlimited import integrations of data, Integrations with APIs, teams of members as well as AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal how much the Premium plan is going to cost. TaxJar Connetcitt
But they did state that this plan is tailor-fit to each user. The cost of the plan will be different in line with what you require for your business.
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a breather. To summarize, here are the pros and cons of using TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only will it assist you in keeping track of your products and revenue however, it will help you meet the deadlines you set. It is also a great option for accountants as they have tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can help you reduce time and keep the track of each deadline and requirement you have to meet. If you’re living in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar Connetcitt
If handling your taxes is simple, then TaxJar might not be a good expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Connetcitt
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect 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 currencies. All transactions are in US$. If you’re using a different currency, you will need to convert it to USUSD before TaxJar can calculate the tax.