Taxes have always been one of the hardest things to do regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to engage an accountant doing it on your own could be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Although this is quite lengthy it is possible to gauge whether TaxJar is exactly what you need today.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar End Enrollment
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with your sales taxes. It streamlines processes that take days to complete and finish within minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, you must maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to display your critical metrics in one place. This means that there is no requirement to collect information from multiple sources and then organize it on one platform. All you need to do is to integrate TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. In this review, we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns TaxJar will train you on how to manage these. But, it is up to you and your team to complete the process within the timeframe. TaxJar is only there to guide you on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you need, like the list of transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. They not only let to know the amount you’ve collected however, they can also help you keep track of when the next payments are due.
The dashboard allows you to fully view the overall sales taxes in your business. It is also possible to export the data as a CSV file in case you require it to aid in process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials, not just on their platform, but everything that has to do with sales tax. You can check out their webinars, guides, and blog for more details. Apart from that the 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 determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the most effective plan to help you with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small company owner, this plan will be ideal for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for something a bit more than just the basics, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for premium plans instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as API integrations, team users and AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar End Enrollment
But they did state that this plan is customized for every user. So the costs will vary according to what you require to run your business.
Luckily, you don’t have to risk your money to see if this platform is right for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to see whether the service is an excellent fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar to run your business.
- Does the plan include 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
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to 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 applicable to USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it aid in tracking your revenue and products, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to meet. If you live in an area with complex tax laws, this will certainly help you to get your mind around it. TaxJar End Enrollment
However, if managing your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete, you might be better to do it by yourself.
FAQ TaxJar End Enrollment
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it to USUSD before TaxJar determines the tax.