Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have the budget to engage an accountant performing the task on your own could be dangerous. If you miss one detail it could mean you need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can always make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. Even though this is lengthy, you should be able to assess whether TaxJar is what you need right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Consultant
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting software seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. That way, there’s no need to collect information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar it will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. In this review, we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns The team will guide you on how to handle these. However, it will be up for you and your team to finish the tax returns within the timeframe. TaxJar is there to guide you on 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 submit the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales tax to recording and processing them. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there, you and your team will have access to everything you require, including the list of transactions, reports, and information.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. Not only will they 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 can also allow users to view in detail the sales tax totals within your company. Additionally, you can export the information to a CSV file in case you require it to aid in accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have available for other operating expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything that has to do with sales tax. You can look through their guides, webinars, as well as their blog to find more info. Apart from that their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They claim that it’s the most effective plan to help you in filing and reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a smaller company proprietor, then this program could be perfect for you. It may not have all of TaxJar’s features, but it has the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for a bit more than just the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive 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 integrations with data imports as well as Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Consultant
However, they did mention that this plan is tailor-fit to each user. So the costs will vary depending on what you need for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to gauge whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To summarize Here are the advantages and disadvantages of making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online 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.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then ought to try this.
Not only will it aid in tracking your revenue and products however, it will assist you in meeting your deadlines. It is also a great option for accountants as they have tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar can help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this can surely help you wrap your head around the subject. TaxJar Consultant
If handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar Consultant
Which areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar can calculate the tax.