Taxes have always been among the most difficult tasks to complete, whether you’re running a business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. In the event that you do not have the budget to employ an accountant, doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this life-saving device and how it can assist you. Even though this is lengthy, you should be able to assess whether TaxJar is what you need today.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar? TaxJar Emails
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to keep everything organized and straightforward. Let’s look into the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one spot. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you need to do is connect TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. In this review, we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on managing them. However, it will be up to you and your staff to complete everything within the timeframe. TaxJar will only guide you 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 all forms by hand. With this feature, everything is automated, from calculating sales tax in order to record and process them. However, there might be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, such as an inventory of your transactions, reports and the data.
The best part about the feature you’ve chosen is it lets 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 track when your following payments are due.
Their dashboard also allows you to fully view the sales tax totals in your business. Additionally, you can export the information in a CSV file, if you want to use it to aid in 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 the sales avenues you use. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures 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 training and tutorials and tutorials, not just for their platform , but also all things connected to sales tax. Check out their webinars, guides, or blog posts for additional info. Apart from that, their sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide 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 tiers and what each of those options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It comes with sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small-scale company proprietor, then this program will be ideal for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking for that is more than the basic features, then the Professional plan may be the best option for you. The price starts at $99 but you can increase it when you add additional features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
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, Integrations with APIs, teams of members, and AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. TaxJar Emails
However, they did say that this plan is customized for every user. Therefore, the cost will differ in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this platform is for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to see if the platform is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you need to know about TaxJar Let’s relax. To summarize we’ll go over the pros and cons of the use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has 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
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access 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 provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that’s what you do, then you should try this.
It’s not just a way to help you track your revenue and products It can also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you reduce time and keep track of every deadline or requirement you need to fulfill. If you live in a region with a lot of tax laws, this will certainly help you to get your mind around it. TaxJar Emails
If handling taxes is easy and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do, you might be better to do it by yourself.
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FAQ TaxJar Emails
What areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar can calculate the tax.
