Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford the budget to engage an accountant doing it on your own could be dangerous. If you overlook one thing it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Although this is quite lengthy, you should be able to gauge whether TaxJar is exactly what you need today.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar? TaxJar Down
Founded in 2013, TaxJar is an online platform that assists you in automating 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 simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting platform is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your key metrics in one place. That way, there’s no need to gather information from multiple sources and sort it into one platform. All you need to do is connect TaxJar, then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. For our review we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income TaxJar will train you on managing these. However, it will be up to you and your team members to complete everything on time. TaxJar will only help you understand what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes in order to record and process it. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there, you and your team will have access to everything you need, like a list of your transactions, reports, as well as data.
The greatest benefit of this feature is that they allow you to update automatically every day. They not only let you keep track of how much you’ve earned, but they also help you track when your following payment is due.
Their dashboard can also allow you to fully view the total sales tax in your business. It is also possible to export the data as a CSV file, if you want to use it for your accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of 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 if you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operating expenses.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but for anything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional details. Apart from that, their sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They claim that it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small-scale company owner, this plan could be ideal for you. It may not offer all the features offered by TaxJar, but it has the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for something a bit more than just the basics, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to choose premium plans instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations, API integrations, team members, and AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Down
However, they did say that this plan is customized to each user. Therefore, the cost will differ according to what you require to run your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. To sum it all up Here are the pros and cons of using TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it aid in tracking your revenue and products It can also help you meet the deadlines you set. It is also a great opportunity for accountants since they provide a Tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax regulations, this will certainly help you to get your mind around it. TaxJar Down
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar Down
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar can calculate the tax.