Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. More so if you don’t have a degree in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the funds to employ an accountant, doing it on yourself can be risky. If you overlook one thing it could mean you have to redo things again!
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 ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Even though this is a long read but you’ll be able to determine if TaxJar is the tool you require right now.
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, then we’ll dive right into.
What is TaxJar? TaxJar District Taxes
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it in all of your sales channels to ensure compliance with sales taxes. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, 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 look into their features and services.
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Services and features
Integration
One of the first things you’ll want to check is your tax-reporting platform is compatible with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. This means that there is no need to collect information from multiple sources and sort it into a single platform. All you need to do is integrate TaxJar it will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. For our review we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to handle them. However, it will be up to you and your team to finish the tax returns within the timeframe. TaxJar will only help you understand what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process it. There could be additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you need, such as an inventory of your transactions, reports, and data.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only can they help you keep track of how much you’ve earned however, they can also help you track when your following payment is due.
The dashboard allows you to see the total sales tax in your business. It is also possible to export the information as CSV format. CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds more effectively. You’ll know better how much budget you have for other operating costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform but all things connected to sales tax. You can look through their webinars, guides as well as their blog to find more information. Apart from that their sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. 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. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan starts at $19. They say it’s the best plan to help you with filing requirements or reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small company proprietor, then this program should be perfect for you. It may not offer all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for that is more than the standard features, then the Professional plan may be the best option for you. It starts at $99, but it can go higher if you add custom features.
So how different is it from the original plan?
Apart from having access to every one of Starter plan’s options, you also have access to their support via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to choose an upgrade instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer 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 for managing the account. However, they don’t disclose how much the Premium plan costs you. TaxJar District Taxes
But they did state that the plan is custom-made for every user. The cost of the plan will be different according to what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is right for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to determine whether the software is a good fit for you.
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Pros and Cons
We’ve covered everything you should know about TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid down, TaxJar can be a great platform companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
Not only will it aid in tracking your products and revenue, but it can help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline and requirement you have to meet. If you’re in a region with a lot of tax laws, this can certainly help you to get your head around it. TaxJar District Taxes
If handling taxes is easy and straightforward, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire process easy to do then you’re better to do it by yourself.
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FAQ TaxJar District Taxes
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using another currency, you’ll have to convert it into USUSD before TaxJar will calculate the tax.
