Taxes have always been one of the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the funds to engage an accountant making it your own can be dangerous. If you make a mistake, you might 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 is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving device and how it can help you. While this is an extensive read but you’ll be able to gauge whether TaxJar is what you need right now.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Drupal Commerce
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and finish within just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting system seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. 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. So, there’s no requirement to collect data from different channels and organize it into one platform. All you need to do is integrate TaxJar then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. 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 this review, we’ll dig into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns The team will guide you on how to manage them. But, it is up for you and your team to complete the process in time. TaxJar is only there to provide guidance on what you have to 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 all forms by hand. With this feature, everything is automated, from calculating taxes on sales to recording and processing it. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce 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, such as the list of transactions, reports and the data.
The greatest benefit of this option is the fact that it lets you to automatically update every day. Not only can they help you keep track of how much you’ve collected however, they can also help you determine when your next payments are due.
The dashboard allows you to see the sales tax totals in your business. You can also export the information as the form of a CSV file in case you require it to aid in financial planning and accounting processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but for anything related to sales tax. You can look through their guides, webinars, as well as their blog to find more information. Additionally, their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing structures and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the best plan to help you in filing and reporting. It also includes the tax on sales, four autofiles for free each year, and an CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale business proprietor, then this program should be ideal for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration tools.
If you’re looking for something different from the basics, then the Professional plan could be the one for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also have their support via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to choose an upgrade instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations, API integrationsfor team members, and AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan will cost you. TaxJar Drupal Commerce
However, they did mention that this plan is tailor-fit to each user. So the costs will vary depending on what you need for your company.
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into other options, they have 30 days of free trial. This should be enough time to determine if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar Let’s relax. To summarize, here are the pros and cons of using TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue It can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they offer the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to meet. If you’re in an area with complex tax laws, this can surely help you wrap your mind around it. TaxJar Drupal Commerce
But if handling your taxes is straightforward, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Drupal Commerce
Which areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n US$. If you’re using another currency, you will need to convert it to USUSD before TaxJar determines the tax.