Taxes have always been among the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford enough money to hire an accountant, doing it on your own can be dangerous. If you miss one detail, you might have to redo things again!
Nearly everyone would prefer to skip this step. But since it’s required and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. While this is a long read it is possible to determine if TaxJar is exactly what you need in the present.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Errors
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your sales channels to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to make their business more simple and organized. Let’s explore their features and services.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting software seamlessly works well with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. So, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is connect TaxJar, it will take care of all 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 that they can connect with:
TaxJar allows clients to file their sales taxes by hand or using their AutoFile feature. For our review we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing income tax returns TaxJar will train you on managing the tax returns. It is up for you and your team members to complete the process in time. TaxJar will only guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing it. But, it is possible to incur additional charges if they are not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you need, like the list of transactions, reports and information.
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 you keep track of how much you’ve earned however, they can also help you keep track of when the next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. Additionally, you can export the information to a CSV file, if you want to use it for your financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even if you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but everything related to sales tax. You can look through their webinars, guides or blog posts for additional details. Additionally, their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, 4 autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small-scale business manager, the plan could be perfect for you. It may not offer all the features of TaxJar, but it has the basic features you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get a bit more than just the basics Professional might be the right one for you. It’s priced at $99 however, it could go up if you add custom features.
How different is it from the starter 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, as well as the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to choose the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
There is also a team dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Errors
However, they did say that the plan is custom-made to each user. The cost of the plan will be different according to what you require for your company.
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still looking into other options, they have 30 days of free trial. It should give you enough time to see if the platform is the right choice for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a break. To sum it all up Here are the pros and cons of the use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online 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
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you should try this.
It’s not just a way to assist you in keeping track of your revenue and products, but it can help you meet your deadlines. It is also a great option for accountants as they have a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this can certainly help you to get your head around it. TaxJar Errors
If handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Errors
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar can calculate your tax.