Taxes are always one of the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re packed with things to do. In the event that you do not have enough money to employ an accountant, doing it on your own can be dangerous. If you miss one detail, you might need to repeat the process!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to make our lives easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. While this is a long read but you’ll be able to gauge whether TaxJar is what you need today.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Discount Distribution
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at their features and services.
Services and features
One of the first things you’ll want to check you have a tax accounting software is compatible with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to get a penalty for missing a single minor point.
TaxJar lets you display your most important metrics in one spot. So, there’s no need to gather data from different channels and organize it into one platform. All you need to do is integrate TaxJar, and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. For this review, we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on managing them. However, it will be up for you and your staff to complete everything on time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through this platform. From there you and your staff can access everything you need, like a list of your transactions, reports and information.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. Not only will they let you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export the data to a CSV file in case you require it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. That means you won’t have to scramble for your documents when you’re in the event of a need. Even when you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds better. You’ll be aware of the budget you have available for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything related to sales tax. You can look through their webinars, guides or blog posts for additional info. Additionally the sales tax calculator can 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 provide amazing features, but they’re sometimes too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the best plan to help you with filing requirements or reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company owner, this plan will be perfect for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration tools.
If you’re looking to get a bit more than just the basic features, then the Professional plan might be the right one for you. It starts at $99, however, it could go up by adding custom features.
How different is it from the original plan?
In addition to having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to choose the Premium plan instead. It comes with all the features you need to make your tax filing easier. Moreover, they allow unlimited data import integrations API integrationsfor team users as well as AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Discount Distribution
However, they did mention that this plan is customized for every user. So the costs will vary depending on what you need for your company.
Luckily, you don’t have to bet your life on it to see if this 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 be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of making use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business It can assist you in meeting your deadlines. This is also an excellent option for accountants as they have tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Using TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this will certainly help you to get your head around it. TaxJar Discount Distribution
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. If you find the entire process easy to do, you might be better in doing it all on your own.
FAQ TaxJar Discount Distribution
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate your tax.