Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have the funds to engage an accountant performing the task on your own can be risky. If you make a mistake it could mean you have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
This article will take a look at this popular life-saving device and how it can help you. Even though this is a long read, you should be able to gauge whether TaxJar is what you need right now.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Contact Us
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with sales taxes. It simplifies the processes that take 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.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure is your tax-reporting system perfectly integrates with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no need to gather information from multiple sources and then organize it on one platform. All you have to do is to integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. In this review, we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on managing these. It is up to you and your staff to complete the process in time. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales through recording, and then processing it. But, it is possible to incur extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. Your orders from 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, like a list of your transactions, reports, and the data.
The best part about this option is the fact that it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned however, they can also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the total sales tax within your company. It is also possible to export the data to CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. It means you don’t need to search for your documents when you need them in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operational expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform but all things connected to sales tax. You can check out their guides, webinars, and blog for more details. In addition the sales tax calculator is useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and the features that each of these plans can offer. 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 with filing requirements and reporting. It includes sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business owner, this plan could be ideal for you. It may not have all the features of TaxJar however, it does include all the basics you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for something different from the basics Professional might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their support 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 have a massive enterprise, you may want to go for premium plans instead. It has all of the features you need to help with your taxes. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge how much the Premium plan costs you. TaxJar Contact Us
But they did state that this plan is customized for every user. Therefore, the cost will differ according to what you require for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one 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 determine whether the software is the right choice for you.
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Pros and Cons
We’ve covered everything you should be aware of TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- It allows you to monitor multiple 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 applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that sounds like what you’re doing, then should try this.
Not only will it aid in tracking the sales and profits of your business It can also help you meet your deadlines. This is also an excellent platform for an accountant since they have a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this can surely help you wrap your head around it. TaxJar Contact Us
If handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it on your own.
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FAQ TaxJar Contact Us
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar can calculate your tax.
