Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have enough money to employ an accountant, making it yourself can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. Although this is quite a long read but you’ll be able to determine if TaxJar is what you need today.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Delete Order With Space
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could can take days to complete, and is completed in just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check is that your accounting tax software is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical metrics in one spot. This means that there is no requirement to collect data from different channels and then organize it on one platform. All you need to do is integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. In this review, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to handle the tax returns. But, it is up to you and your team members to complete the process within the timeframe. TaxJar will only help you understand what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales tax through recording, and then processing it. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access 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 update your account automatically each day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the total sales tax in your business. You can also export the data to a CSV file in case you require it in your financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. It means you don’t need to scramble for your documents when you’re in the event of a need. Even even if you already have an accountant, this feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more details. Apart from that their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small company manager, the plan could be perfect for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basics and options, then the Professional plan may be the best option for you. The price starts 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 every one of Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to choose premium plans instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports API integrations, team members and AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Delete Order With Space
But they did state that the plan is custom-made for each user. Therefore, the cost will differ according to what you require for your company.
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to determine whether the service is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- It allows you to monitor multiple 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 for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If that sounds like what you do, then you should try this.
Not only will it aid in tracking your revenue and products It can also help you meet the deadlines you set. It is also a great opportunity for accountants since they offer a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar can allow you to save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re in an area with complex tax laws, this will certainly help you to get your mind around it. TaxJar Delete Order With Space
If handling taxes is easy 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. In addition, if you find the whole procedure easy to complete, you might be better to do it by yourself.
FAQ TaxJar Delete Order With Space
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of 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 with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar can calculate your tax.