Taxes are always one of the hardest things to do regardless of whether you run your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is packed with things to do. If you don’t have enough money to hire an accountant, making it your own can be risky. If you miss one detail, you might have to do it all over again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
What can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can help you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar? TaxJar Ecommerce Providers
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you must keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. So, there’s no need to gather data in multiple channels and then organize it on one platform. All you need to do is connect TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. In this review, we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns TaxJar will train you on managing these. It is up to you and your team to complete everything on time. TaxJar is there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything will be automated from calculating taxes on sales in order to record and process them. But, it is possible to incur additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into a single dashboard through this platform. From there, you and your team can access everything you require, including a list of your transactions, reports, as well as data.
The best part about this feature is that it allows you to automatically update every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals within your company. You can also export your data in CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have to cover other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also all things that has to do with sales tax. Check out their guides, webinars, or blog posts for additional information. Apart from that, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have 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 those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the best plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale business manager, the plan should be perfect for you. It may not offer all of TaxJar’s features however, it does include the basic features you require.
You can also contact their support team with their email support chart. You’ll also have access to their integration tools.
If you’re looking to get different from the standard features Professional may be the best option for you. The price starts at $99 however, it could go up when you add additional features.
What is the difference from the starter plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large business, you might need to opt for premium plans instead. It includes all of the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations as well as API integrationsfor team users as well as AutoFiles.
They also have a team who are devoted to managing your account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Ecommerce Providers
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your company.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to determine whether the software is the right choice for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- You can track several 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
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it aid in tracking your revenue and products, but it can assist you in meeting your deadlines. It is also a great platform for an accountant since they offer tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using 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 a place with complicated tax laws, this can certainly help you to get your head around the subject. TaxJar Ecommerce Providers
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Ecommerce Providers
What areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar will calculate the tax.