Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have enough money to engage an accountant making it your own could be risky. If you miss one detail it could mean you have to redo things again!
Most people want to avoid this step. But , as it’s a requirement, we have no choice.
What can we do about it?
We can always simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving tool and explain how it can assist you. Although this is quite an extensive read, you should be able to assess whether TaxJar is the tool you require right now.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar Customer Success Specialist
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all of the sales channels you use to ensure compliance with sales tax requirements. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything neat and simple. Let’s take a look at their features and services.
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Features and services
Integration
One of the most important things you’ll need to make sure is your tax-reporting system seamlessly works well along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar lets you display your key metrics in one place. This means that there is no need to gather information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For the purpose of this article, we’ll look into both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns The team will guide you on how to manage the tax returns. But, it is up for you and your team to complete everything on time. TaxJar will only provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. With this feature, everything will be automated from calculating sales taxes through recording, and then processing it. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting issues. Your orders from 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 information.
The best part about this feature is that they allow you to automatically update every day. Not only will they let you keep track of how much you’ve collected however, they can also help you determine when your next payment is due.
Their dashboard can also allow you to fully view the overall sales taxes for your business. It is also possible to export the information as CSV format. CSV file in case you require it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to scramble for your documents whenever you’re in a pinch. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but everything that has to do with sales tax. You can check out their webinars, guides, as well as their blog to find more info. Additionally the sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan costs $19. They say it’s the most suitable plan for you to help you with filing requirements or reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company owner, this plan will be ideal for you. It may not offer all the features offered by TaxJar, but it has all the basics you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for that is more than the basics and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to go for premium plans instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of members, and AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose how much the Premium plan will cost you. TaxJar Customer Success Specialist
However, they did say that this plan is customized to each user. The cost of the plan will be different in line with what you require for your company.
Free Trial
Fortunately, you don’t need to bet your life on it to determine if this service is right for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to determine if the platform is a good fit for you.
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Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a break. To sum it all up Here are the pros and cons of the use of TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- 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
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to aid in tracking the sales and profits of your business, but it can also help you meet the deadlines you set. This is also an excellent option for accountants as they have tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep track of every deadline and requirement you have to meet. If you’re in a region with a lot of tax laws, this can definitely help you get your head around it. TaxJar Customer Success Specialist
However, if managing your taxes is straightforward, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. In addition, if you find the entire procedure easy to complete, you might be better in doing it all on your own.
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FAQ TaxJar Customer Success Specialist
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar will calculate the tax.
