Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a degree 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 the funds to hire an accountant, performing the task on your own can be dangerous. If you miss one detail it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory, we have no choice.
So , what is the best way to deal with it?
We can always simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving device and how it can benefit you. Even though this is lengthy but you’ll be able to assess whether TaxJar is what you need in the present.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, we’ll dive right into.
What is TaxJar TaxJar Discount
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all your channels of sales to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything organized and straightforward. Let’s take a look at their features and services.
Features and services
One of the first things you’ll need to ensure you have a tax accounting software seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to 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 information from multiple sources and then organize it on a single platform. All you have to do is integrate TaxJar, it will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings either manually or via TaxJar’s AutoFile feature. For our review we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns TaxJar will train you on how to manage them. But, it is up for you and your team members to complete everything within the timeframe. TaxJar will only guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales to recording and processing it. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team can access everything you need, like a list of your transactions, reports, and data.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. They not only let you know how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to see the overall sales taxes in your business. You can also export your data as a CSV file, if you want to use it to aid in financial planning and accounting processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. It means you don’t need to search for your documents whenever you’re in the event of a need. Even when you already have your accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operating expenses.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but everything that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more information. Additionally, their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing tiers and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It comes with the tax on sales, four autofiles for free each year, and an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a smaller business manager, the plan will be perfect for you. It may not have all of TaxJar’s features, but it has the basic features you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for a bit more than just the basic features Professional might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to opt for premium plans instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data API integrationsfor team users as well as AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Discount
But they did state that this plan is customized for every user. The cost of the plan will be different according to what you require to run your business.
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to gauge whether the software is the right choice for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- It allows you to monitor 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 applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you do, then you must try TaxJar.
Not only will it aid in tracking your products and revenue however, it will help you meet your deadlines. It’s also an excellent opportunity for accountants since they have tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax regulations, this will certainly help you to get your head around it. TaxJar Discount
However, if managing your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the whole process easy to do, you might be better off doing it on your own.
FAQ TaxJar Discount
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USUSD prior to when TaxJar determines your tax.