Taxes are always one of the hardest things to do regardless of whether you run your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have enough money to employ an accountant, making it yourself can be risky. If you miss one detail, you might have to redo things again!
Almost everyone wants to skipping this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can help you. Although this is quite an extensive read it is possible to assess whether TaxJar is the tool you require right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, let’s dive right in.
What is TaxJar? TaxJar Cost
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to 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.
Features and services
One of the first things you’ll need to ensure is that your accounting tax system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important data in one location. This means that there is no need to gather data in multiple channels and then organize it on one platform. All you need to do is integrate TaxJar, it will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to the filing of income tax returns TaxJar will train you on managing these. It is up to you and your staff to complete the process on time. TaxJar is only there to provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales tax through recording, and then processing it. There could be extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team will have access to all the information you require, including a list of your transactions, reports, as well as data.
The greatest benefit of this feature is that it lets you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the total sales tax in your business. You can also export the information in the form of a CSV file, if you want to use it in your financial planning and accounting processes 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. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even when you already have your accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operating costs.
The best part is that TaxJar offers tutorials and training not only on their platform, but for anything that has to do with sales tax. You can check out their guides, webinars, or blog posts for additional details. Apart from that, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing structures and the features that each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you in filing and reporting. It comes with the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small-scale company owner, this plan could be perfect for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for something a bit more than just the standard features Professional could be the one for you. It starts at $99, however, it could go up if you add custom features.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge business, you might need to choose premium plans instead. It comes with all the features that you require to aid in your tax preparation. In addition, they offer unlimited integrations with data imports Integrations with APIs, teams of members, and AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan costs you. TaxJar Cost
But they did state that this plan is customized for each user. Therefore, the cost will differ depending on what you need for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is right 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 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 break. To sum it all up we’ll go over the pros and cons of using TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track 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 to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes plenty of platforms. If this sounds like the way you do, then you should try this.
Not only will it help you track the sales and profits of your business however, it will assist you in meeting your deadlines. It’s also an excellent option for accountants as they provide the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Using TaxJar will help you reduce time and keep the track of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can definitely help you get your head around the subject. TaxJar Cost
If handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. 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 then you’re better in doing it all by yourself.
FAQ TaxJar Cost
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n US$. If you’re using a different currency, you will need to convert it into US$ before TaxJar will calculate the tax.