Taxes have always been among the most difficult things to handle regardless of whether you’re running an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. If you don’t have the funds to employ an accountant, making it your own could be risky. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement, we have no choice.
So what can we do about it?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can benefit you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is what you need today.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Cost Per Year
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. So, there’s no need to collect information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. For this review, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income The team will guide you on how to manage the tax returns. But, it is up for you and your team to complete the process within the timeframe. TaxJar is only there to provide guidance on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there, you and your team will have access to everything you need, like an inventory of your transactions, reports, as well as information.
The most appealing aspect 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 accumulated 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 for your business. You can also export the information in a CSV file if you need it in your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re in a pinch. Even when you already have your accountant, this feature will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but for anything connected to sales tax. Check out their guides, webinars, as well as their blog to find more info. Additionally the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the best plan for those who need assistance with filing requirements 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 advice.
If you’re a small company manager, the plan should be ideal for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for different from the standard features, then the Professional plan could be the one for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to choose an upgrade instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited import integrations of data API integrationsfor team members as well as AutoFiles.
They also have a staff who are devoted for managing the account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Cost Per Year
However, they did say that the plan is custom-made for every user. So the costs will vary according to what you require for your business.
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to determine whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar let’s take a breather. To summarize Here are the pros and cons of making use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then should try this.
Not only can it help you track your revenue and products, but it can assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you get more done while keeping on top of each deadline and obligation you have to meet. If you’re living in a place with complicated tax laws, this can certainly help you to get your mind around it. TaxJar Cost Per Year
If handling your taxes is simple, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Cost Per Year
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate your tax.