Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford the funds to hire an accountant, doing it on your own can be risky. If you overlook one thing, you might have to redo things again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory, we have no choice.
What is the best way to deal with it?
It is always possible to make our lives easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Coupons
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that 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 institutions.
What can it do to help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. 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 your tax-reporting platform is compatible with your sales channel. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to show your key metrics in one place. So, there’s no need to gather data in multiple channels and sort it into one platform. All you have to do is to integrate TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. For our review we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to handle them. But, it is up to you and your team to complete the process on time. TaxJar will only provide guidance on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales tax to recording and processing them. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled 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, and information.
The best part about this option is the fact that it lets you to update automatically every day. Not only can they help to know the amount you’ve collected however, they can also help you keep track of when the next payment is due.
The dashboard allows you to fully view the sales tax totals within your company. Additionally, you can export your data to a CSV file in case you require it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork when you need them in a pinch. Even when you already have your accountant, this function can help them be 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 know better how much budget you have to cover other operational costs.
The best part is that TaxJar offers tutorials and training, not just for their platform , but also all things related to sales tax. You can look through their webinars, guides, and blog for more information. In addition, their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a smaller business manager, the plan should be ideal for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking to get that is more than the basics, then the Professional plan could be the one for you. The price starts at $99 but you can increase it if you add custom features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to opt for premium plans instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data API integrationsfor team members, and AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar Coupons
However, they did say that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your business.
Luckily, you don’t have to gamble your money just to find out if the platform is right for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to see whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of making use of TaxJar for your company.
- 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
- It offers a free trial of 30 days.
- 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
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it help you track the sales and profits of your business however, it will help you meet your deadlines. This is also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to meet. If you’re living in an area with complex tax regulations, this will definitely help you get your head around it. TaxJar Coupons
If handling taxes is easy and straightforward, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow then you’re better in doing it all by yourself.
FAQ TaxJar Coupons
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar determines the tax.