Taxes have always been one of the most difficult things to handle, whether you’re running a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to employ an accountant, making it your own could be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can help you. Although this is quite lengthy but you’ll be able to assess whether TaxJar is exactly what you need right now.
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, then let’s dive right in.
What is TaxJar? TaxJar Delete Imported Transactions
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to keep everything neat and simple. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax software seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one spot. That way, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is connect TaxJar and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows clients to make sales tax filings either manually or via the AutoFile feature. In this review, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns, the team will instruct you on managing these. But, it is up for you and your staff to complete the process within the timeframe. TaxJar is only there to guide you on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales tax in order to record and process them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you require, including an inventory of your transactions, reports, as well as data.
The best part about this option is the fact that it allows you to update your account automatically each day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to see the total sales tax in your business. Additionally, you can export the data in CSV format. CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in the event of a need. Even when you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have to cover other operational costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform , but also for anything connected to sales tax. You can check out their guides, webinars, as well as their blog to find more info. Additionally their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason, we’ll look into TaxJar’s pricing tiers 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 starts at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small company proprietor, then this program could be perfect for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for something a bit more than just the standard features, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to opt for the Premium plan instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited data import integrations Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Delete Imported Transactions
But they did state that the plan is custom-made for every user. So the costs will vary according to what you require for your company.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still considering different options, they offer a 30-day free trial. It should give you enough time to gauge whether the software is the right choice for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If this sounds like the way you do, then you should try this.
Not only can it help you track your products and revenue, but it can help you meet your deadlines. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
The use of TaxJar will 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 will definitely help you get your head around it. TaxJar Delete Imported Transactions
If handling your taxes is simple, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Delete Imported Transactions
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in US$. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar will calculate your tax.