Taxes have always been among the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to engage an accountant making it your own can be dangerous. If you make a mistake, you might need to repeat the process!
Most people want to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can benefit you. While this is a long read, you should be able to assess whether TaxJar is exactly what you need in the present.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Demo
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all your sales channels to ensure compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting platform is compatible with your sales channel. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important data in one location. This means that there is no need to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar, then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers make sales tax filings manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to manage these. However, it will be up to you and your team members to complete everything in time. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating sales tax in order to record and process them. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team can access everything you need, such as the list of transactions, reports and information.
The best part about the feature you’ve chosen is it allows you to update your account automatically each day. They not only let you know how much you’ve earned, but they also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the sales tax totals in your business. Additionally, you can export the information to a CSV file, if you want to use it in your process of financial planning and accounting or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. It means you don’t need to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform but everything related to sales tax. You can look through their webinars, guides as well as their blog to find more info. In addition, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, four autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a smaller company owner, this plan could be ideal for you. It may not have all the features offered by TaxJar, but it has the basic features you require.
You can also contact their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking to get different from the basics, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the basic plan?
Apart from having access to all of the 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.
If you own a huge business, you might need to choose the Premium plan instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports as well as API integrations, team 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 Demo
However, they did mention that the plan is custom-made for each user. So the costs will vary depending on what you need for your business.
Fortunately, you don’t need to gamble your money just to determine if this service is right for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to gauge if the platform is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features save 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 is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- 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 recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business, but it can help you meet your deadlines. It’s also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re in a place with complicated tax regulations, this will surely help you wrap your mind around it. TaxJar Demo
If handling your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do, you might be better to do it on your own.
FAQ TaxJar Demo
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar determines your tax.