Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to engage an accountant performing the task on your own can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
What is the best way to deal with it?
We can always make life easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can help you. Even though this is a long read but you’ll be able to assess whether TaxJar is exactly what you need today.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Coupon
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it in all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to keep everything simple and organized. Let’s look into their features and services.
Services and features
One of the most important things you’ll want to check is your tax-reporting software seamlessly works well along with sales funnels. 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 get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical data in one location. This means that there is no need to gather data from different channels and then organize it on a single platform. All you have to do is to integrate TaxJar it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. For the purpose of this article, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns, the team will instruct you on managing the tax returns. But, it is up for you and your team members to complete the process in time. TaxJar will only guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. This feature will ensure that everything is automated, from calculating sales taxes in order to record and process them. There could be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting problems. 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 can access everything you require, including the list of transactions, reports, as well as information.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned, but they also help you determine when your next payment is due.
Their dashboard also allows you to fully view the sales tax totals in your business. Additionally, you can export the information as CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team requires it for centralized 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 scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operating expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also for anything connected to sales tax. You can look through their webinars, guides and blog for more info. Apart from that the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they can be 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 options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the best plan to help you with filing requirements or reporting. It includes the tax on sales, four autofiles for free each year, and a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small business owner, this plan could be ideal for you. It may not have all the features offered by TaxJar, but it has all the basics you require.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration features.
If you’re looking for something that is more than the basic features Professional 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?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to choose premium plans instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited integrations with data imports Integrations with APIs, teams of users as well as AutoFiles.
They also have a team dedicated for managing the account. But, they don’t divulge how much the Premium plan will cost you. TaxJar Coupon
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require to run your business.
Luckily, you don’t have to bet your life on it to see if this platform is right for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to see whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a break. To summarize, here are the pros and cons of making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only can it help you track your products and revenue, but it can also help you meet the deadlines you set. It’s also an excellent option for accountants as they offer a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Coupon
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Coupon
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in US$. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar will calculate the tax.