Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have enough money to engage an accountant making it your own could be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Most people want to skip this step. But since it’s required, we have no choice.
So , what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can benefit you. Even though this is an extensive read it is possible to assess whether TaxJar is what you need right now.
Do you prefer watching videos rather than watch them? Take a look at 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 we’ll dive right into.
What is TaxJar? TaxJar Email Format
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and finish within just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll want to check is your tax-reporting system is compatible with your sales channel. If you have multiple sales channels, it is essential to ensure that everything is in order. 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. This means that there is no need to collect data in multiple channels and then organize it on a single platform. All you have to do is to integrate TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using the AutoFile feature. In our review we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income The team will guide you on managing the tax returns. It is up to you and your team to finish the tax returns within the timeframe. TaxJar will only provide guidance on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. With this feature, everything is automated, from calculating sales tax through recording, and then processing it. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as the list of transactions, reports, as well as data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. Not only will they let to know the amount you’ve accumulated, but they also help you track when your following payment is due.
The dashboard allows users to view in detail the sales tax totals in your business. It is also possible to export the information in CSV format. CSV file in case you require it to aid in accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. It means you don’t need to search for your documents when you’re in the event of a need. Even even if you already have an accountant, this feature can help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating expenses.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but everything related to sales tax. You can look through their webinars, guides, and blog for more details. In addition their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. They claim that it’s the most effective plan for those who need assistance in filing and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small business proprietor, then this program will be perfect for you. It might not include all the features of TaxJar, but it has all the basics you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basics Professional might be the right one for you. The price starts at $99 but you can increase it by adding custom features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge business, you might need to opt for an upgrade instead. It has all of the features that you require to help with your taxes. Moreover, they allow unlimited integrations with data imports, API integrationsfor team users as well as AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Email Format
However, they did say that this plan is customized for every user. So the costs will vary depending on what you need for your business.
Luckily, you don’t have to risk your money to see if this platform is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking your revenue and products, but it can also help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this can definitely help you get your head around the subject. TaxJar Email Format
But if handling your taxes is straightforward and straightforward, then TaxJar could be a waste of 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 whole procedure easy to complete then you’re better in doing it all on your own.
FAQ TaxJar Email Format
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USdollars prior to when TaxJar can calculate your tax.