Taxes are always one of the hardest things to do regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the budget to hire an accountant, performing the task on your own could be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can make our lives easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can assist you. Even though this is lengthy it is possible to assess whether TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Corporate Headquarters Address
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s explore their features and services.
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Features and services
Integration
One of the most important things you’ll want to check you have a tax accounting system is compatible along with sales funnels. If you’re using multiple sales channels, you must maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. So, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you need to do is connect TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing tax returns for income The team will guide you on how to manage the tax returns. But, it is up to you and your team members to complete everything in time. TaxJar will only guide you on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. This feature will ensure that everything will be automated, from calculating sales tax through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you need, such as an inventory of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that it lets you to automatically update every day. They not only let to know the amount you’ve collected, but they also help you determine when your next payment is due.
Their dashboard can also allow users to view in detail the total sales tax in your business. You can also export your data to a CSV file in case you require it to aid in financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but all things related to sales tax. You can check out their webinars, guides or blog posts for additional details. In addition their sales tax calculator is useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance in filing and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small company owner, this plan will be perfect for you. It might not include all the features offered by TaxJar, but it has the essentials that you need.
You can also contact the support team via their email support chart. You’ll also have access to their integration tools.
Professional
If you’re looking to get a bit more than just the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to choose premium plans instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited data import integrations as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a staff dedicated for managing the account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Corporate Headquarters Address
However, they did mention that this plan is customized to each user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce 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
- Allows you to track 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.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it help you track the sales and profits of your business, but it can also help you meet the deadlines you set. It is also a great option for accountants as they have tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to meet. If you’re in an area with complex tax laws, this will definitely help you get your head around it. TaxJar Corporate Headquarters Address
However, if managing your taxes is straightforward, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar Corporate Headquarters Address
Which areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it into USUSD before TaxJar can calculate your tax.
