Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have the budget to engage an accountant doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to avoid this step. But since it’s required, we have no choice.
What can we do about it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. Even though this is an extensive read, you should be able to gauge whether TaxJar is the tool you require today.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Elisa Campos
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few only a few minutes.
TaxJar is 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 used extensively by owners of online businesses to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting system seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar lets you display your most important metrics in one spot. That way, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is connect TaxJar it will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to submit their sales tax manually or through the AutoFile feature. In this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to filing tax returns for income, the team will instruct you on managing them. However, it will be up for you and your staff to complete the process on time. TaxJar is there to guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. Through this feature, everything will be automated from calculating sales tax in order to record and process it. There could be additional charges if they are not included in the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you need, like a list of your transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only can they help you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax within your company. You can also export the information to a CSV file in case you require it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accountant, this feature will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operational costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but all things related to sales tax. You can look through their webinars, guides and blog for more information. Apart from that the sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the best plan to help you in filing and reporting. It comes with the tax on sales, four autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan could be perfect for you. It may not have all the features of TaxJar, but it has all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something a bit more than just the basic features and options, 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.
What is the difference from the original plan?
In addition to accessing all of the Starter plan’s features, you also have their support via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to go for the Premium plan instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports API integrations, team users and AutoFiles.
They also have a team dedicated for managing the account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Elisa Campos
However, they did say that the plan is custom-made to each user. So the costs will vary depending on what you need to run your business.
Luckily, you don’t have to gamble your money just to determine if this service is 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 see if the platform is a good fit for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To summarize Here are the pros and cons of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then you ought to try this.
Not only will it aid in tracking the sales and profits of your business, but it can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they have a Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
The use of TaxJar will help you reduce time and keep track of every deadline or requirement you need to meet. If you live in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Elisa Campos
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Elisa Campos
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar will calculate your tax.