Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford the funds to engage an accountant making it your own could be risky. If you make a mistake it could mean you need to repeat the process!
Most people want 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 simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can help you. Although this is quite lengthy, you should be able to assess whether TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar Discretionary Surtax
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all of your channels of sales to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
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 explore their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting system seamlessly works well along with sales funnels. If you have multiple sales channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important data in one location. This means that there is no need to gather data in multiple channels and sort it into one platform. All you have to do is connect TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When it comes time to filing tax returns for income TaxJar will train you on managing them. However, it will be up to you and your staff to complete the process in time. TaxJar will only help you understand what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. With this feature, everything will be automated from calculating taxes on sales to recording and processing it. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to everything you require, including a list of your transactions, reports and information.
The most appealing aspect of this feature is that it allows you to update your account automatically each day. Not only can they help you keep track of how much you’ve collected, but they also help you determine when your next payment is due.
The dashboard allows you to fully view the sales tax totals in your business. It is also possible to export the data to CSV format. CSV file if you need it in your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar offers tutorials and training not only on their platform, but everything related to sales tax. Check out their webinars, guides as well as their blog to find more info. Apart from that the sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the most effective plan to help you with filing requirements and reporting. It includes taxes on sales and sales as well as four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small-scale business manager, the plan will be ideal for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for different from the basic features, then the Professional plan could be the one for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the basic plan?
In addition to having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It comes with all the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of members and AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Discretionary Surtax
However, they did mention that this plan is customized for each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of the use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- 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.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not 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 laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business, but it can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they have a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re living in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Discretionary Surtax
If handling taxes is easy and straightforward, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you find the whole procedure simple to follow, you might be better in doing it all on your own.
FAQ TaxJar Discretionary Surtax
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into US$ prior to when TaxJar will calculate your tax.