Taxes are always one of the most difficult things to handle, whether you’re running a business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford enough money to hire an accountant, making it yourself can be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to avoid this step. But since it’s required, we have no choice.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can help you. While this is lengthy but you’ll be able to determine if TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Developer Account
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is simple and organized. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting software seamlessly works well along with sales funnels. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key data in one location. This means that there is no need to gather information from multiple sources and then organize it on a single platform. All you have to do is to integrate TaxJar, then the system will do all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income The team will guide you on managing these. However, it will be up for you and your team members to complete the process on time. TaxJar will only 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 any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing them. But, it is possible to incur extra fees if not part of the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there you and your staff will have access to all the information you require, including the list of transactions, reports, as well as information.
The best part about this option is the fact that it allows you to automatically update every day. Not only can they help to know the amount you’ve accumulated however, they can also help you track when your following payment is due.
The dashboard allows you to fully view the overall sales taxes in your business. Additionally, you can export the information in CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. It means you don’t need to scramble for your documents whenever you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also all things related to sales tax. You can check out their guides, webinars, and blog for more information. In addition their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb features, but they can be too costly for your business. That’s why for this section, we’ll look into 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
Their Starter plan costs $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small business proprietor, then this program could be perfect for you. It may not have all the features offered by TaxJar, but it has all the basics you require.
You can also contact the support team via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for that is more than the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
What is the difference from the original plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as sophisticated 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 choose premium plans instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of members, and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Developer Account
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to gauge whether the software is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you must be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking your revenue and products however, it will assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they offer a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar can help you save more time while keeping track of every deadline and requirement you have to meet. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your head around it. TaxJar Developer Account
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good 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 entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar Developer Account
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar will calculate the tax.
