Taxes have always been among the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have enough money to engage an accountant making it your own can be risky. If you miss one detail and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. Although this is quite lengthy, you should be able to assess whether TaxJar is the tool you require right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What is TaxJar? TaxJar Costs
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s 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 tax requirements. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been utilized 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 ensure that everything is simple and organized. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll want to check is your tax-reporting platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no requirement to collect information from multiple sources and organize it into one platform. All you have to do is connect TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. In the purpose of this article, we’ll look at both.
If you opt to manually file your tax returns, 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 managing them. But, it is up for you and your team members to finish the tax returns in time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. 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 need, like the list of transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only can they help to know the amount you’ve collected and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. You can also export your data in CSV format. CSV file if you need it in your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to hunt for your paperwork when you’re in a pinch. Even when you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have to cover other operating expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but all things that has to do with sales tax. You can look through their webinars, guides and blog for more information. In addition their sales tax calculator can be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the best plan to help you with filing requirements or reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller business manager, the plan could be ideal for you. It may not have all of TaxJar’s features but it comes with the essentials that you need.
You can also contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something a bit more than just the basic features, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up by adding custom features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also have 12 free AutoFiles each year.
Premium
If you run a large business, you might need to opt for the Premium plan instead. It comes with all the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrations, team members and AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal how much the Premium plan will cost you. TaxJar Costs
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
It’s a good thing that you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to see whether the software is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has 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
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on 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 review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you do, then you should try this.
Not only will it aid in tracking your products and revenue It can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they have tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar can help you save more time while keeping track of every deadline and obligation you have to meet. If you’re living in a region with a lot of tax laws, this can surely help you wrap your head around the subject. TaxJar Costs
However, if managing your taxes is simple If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole process easy to do, you might be better off doing it on your own.
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FAQ TaxJar Costs
What areas does TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it into USdollars before TaxJar can calculate the tax.
