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 a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have enough money to hire an accountant, doing it on your own can be dangerous. If you miss one detail, you might have to do it all over again!
Most people want to avoid this step. But since it’s required to be done, we can’t choose not to.
What can we do about it?
It is always possible to simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Although this is quite an extensive read it is possible to gauge whether TaxJar is the tool you require today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Expected Sales Tax Or Actual Sales Tax
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with sales tax requirements. 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 used extensively by owners of online businesses to ensure that everything is organized and straightforward. Let’s look into their features and services.
Services and features
One of the most important things you’ll want to check you have a tax accounting software seamlessly works well with your sales channel. If you have multiple sales channels, you need to keep everything in place. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one spot. This means that there is no need to gather information from multiple sources and then organize it on a single platform. All you need to do is integrate TaxJar, and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income TaxJar will train you on how to manage these. It is up for you and your staff to complete everything on time. TaxJar is only there to provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. With this feature, everything will be automated from calculating sales tax to recording and processing them. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, like the list of transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. Not only can they help to know the amount you’ve earned, but they also help 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. Additionally, you can export the information as CSV format. CSV file if you need it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to search for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this feature can make them more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training not only for their platform but all things connected to sales tax. You can look through their webinars, guides as well as their blog to find more details. In addition the sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish 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 take a look at TaxJar’s pricing tiers and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance with filing requirements and reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a smaller business owner, this plan will be perfect for you. It may not have all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for something a bit more than just the standard features Professional could be the one for you. It’s priced at $99 but it can go higher if you add custom features.
What is the difference from the original plan?
In addition to having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to opt for premium plans instead. It includes all of the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of users, and AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal how much the Premium plan costs you. TaxJar Expected Sales Tax Or Actual Sales Tax
However, they did say that this plan is tailor-fit for each user. So the costs will vary depending on what you need for your company.
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. It should give you enough time to see whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then ought to try this.
Not only will it aid in tracking your revenue and products 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. You can get tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can help you reduce time and keep track of every deadline and obligation you have to meet. If you’re in a region with a lot of tax regulations, this will definitely help you get your mind around it. TaxJar Expected Sales Tax Or Actual Sales Tax
But if handling your taxes is simple If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Expected Sales Tax Or Actual Sales Tax
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar can calculate your tax.