Taxes have always been among the most difficult things to handle regardless of whether you run a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have the budget to engage an accountant making it yourself can be risky. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory and mandatory, there’s no other 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 tool and explain how it can assist you. Although this is quite lengthy it is possible to gauge whether TaxJar is the tool you require right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Digital Goods
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with your sales taxes. It streamlines processes that take days to complete and finish within just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is neat and simple. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting software seamlessly works well along with sales funnels. If you have multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. That way, there’s no need to collect information from multiple sources and sort it into one platform. All you need to do is connect TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. In our review we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on how to manage the tax returns. It is up to you and your team members to complete the process on time. TaxJar is only there to guide you on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. With this feature, everything will be automated, from calculating sales tax through recording, and then processing it. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you require, including a list of your transactions, reports and data.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve earned, but they also help you keep track of when the next payments are due.
The dashboard allows users to view in detail the overall sales taxes in your business. It is also possible to export your data to a CSV file if you need it in your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps you 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’re in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training not only for their platform but for anything that has to do with sales tax. You can look through their webinars, guides or blog posts for additional details. Apart from that, their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you have access to their AI tax recommendations.
If you’re a small-scale company manager, the plan will be perfect for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration features.
If you’re looking for a bit more than just the basics, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it by adding custom features.
So how different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for an upgrade instead. It includes all of the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Digital Goods
However, they did say that the plan is custom-made for each user. So the costs will vary in line with what you require for your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to gauge whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- Does the plan include a 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 easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it help you track your products and revenue, but it can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you save more time while keeping track of every deadline and obligation you have to meet. If you live in a region with a lot of tax laws, this will certainly help you to get your head around the subject. TaxJar Digital Goods
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Digital Goods
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate the tax.