Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have enough money to hire an accountant, making it your own could be risky. If you miss one detail, you might have to do it all over again!
Most people want to avoid this step. But since it’s required, we have no choice.
What is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. Even though this is lengthy, you should be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Doctype
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. 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 streamlines processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been utilized 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 widely used by business owners who run online businesses to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to ensure is that your accounting tax software perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to maintain everything in line. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to show your critical data in one location. So, there’s no need to collect information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For this review, we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns, the team will instruct you on how to handle the tax returns. However, it will be up to you and your staff to complete the process within the timeframe. TaxJar is only there to guide you on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes in order to record and process it. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff will have access to everything you need, like an inventory of your transactions, reports and data.
The most appealing aspect of this option is the fact that it allows you to update your account automatically each day. Not only will they let you know how much you’ve accumulated, but they also help you keep track of when the next payment is due.
The dashboard allows users to view in detail the total sales tax for your business. Additionally, you can export your data to a CSV file if you need it to aid in accounting and financial planning processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds better. You’ll know better how much budget you have available for other operating expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but for anything related to sales tax. You can look through their guides, webinars, and blog for more information. Additionally their sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller company proprietor, then this program should be ideal for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking to get a bit more than just the standard features, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to choose the Premium plan instead. It has all of the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports, API integrations, team users, and AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal how much the Premium plan costs you. TaxJar Doctype
But they did state that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require for your business.
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 a 30-day free trial. This should give you enough time to see whether the software is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- 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 be able to access the API feature
- Only valid for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue, but it can also help you meet the deadlines you set. It is also a great platform for an accountant since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this can definitely help you get your head around the subject. TaxJar Doctype
If handling your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. If you find the entire procedure simple to follow, you might be better to do it by yourself.
FAQ TaxJar Doctype
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it into USdollars prior to when TaxJar will calculate the tax.