Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. In the event that you do not have the funds to employ an accountant, making it yourself can be dangerous. If you miss one detail it could mean you have to redo things again!
Almost everyone wants to skipping this step. But , as it’s a requirement, we have no choice.
What can we do about it?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. Although this is quite lengthy, you should be able to gauge whether TaxJar is what you need today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Dashboard
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar is used 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 widely used by online business owners to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax software is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one spot. So, there’s no requirement to collect data from different channels and organize it into a single platform. All you need to do is integrate TaxJar and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes by hand or using TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns The team will guide you on managing these. It is up to you and your team to finish the tax returns in time. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating sales tax through recording, and then processing them. However, there might 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 issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff will have access to everything you need, such as the list of transactions, reports, and information.
The greatest benefit of this option is the fact that they allow you to automatically update every day. They not only let you know how much you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard can also allow you to see the total sales tax within your company. Additionally, you can export the information as a CSV file if you need it to aid in process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have to cover other operational costs.
The best part is that TaxJar offers tutorials and training, not just on their platform, but all things that has to do with sales tax. Check out their guides, webinars, or blog posts for additional details. Apart from that their 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 set your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the best plan for those who need assistance with filing requirements and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller business proprietor, then this program will be ideal for you. It might not include all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
Professional
If you’re looking to get a bit more than just the standard features, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it by adding custom features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you run a large enterprise, you may want to choose premium plans instead. It has all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
They also have a team who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. costs you. TaxJar Dashboard
However, they did mention that this plan is customized for every user. So the costs will vary according to what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still looking into different options, they offer a 30-day free trial. This should be enough time to gauge whether the service is an excellent fit 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 break. To sum it all up, here are the pros and cons of using TaxJar to run your business.
Pros
- 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
- Offers a 30-day free trial
- It can be integrated with other platforms
- Allows you to track 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 check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you ought to try this.
Not only can it help you track the sales and profits of your business however, it will also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this can certainly help you to get your head around the subject. TaxJar Dashboard
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with 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 procedure simple to follow then you’re better to do it on your own.
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FAQ TaxJar Dashboard
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar can calculate your tax.
