Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. If you don’t have enough money to employ an accountant, doing it on yourself can be dangerous. If you overlook one thing, you might have to do it all over again!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can assist you. Although this is quite lengthy but you’ll be able to determine if TaxJar is what you need right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar External Sales
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is simple and organized. Let’s look into their features and services.
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Features and services
Integration
One of the first things you’ll need to ensure is your tax-reporting software is compatible along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. That way, there’s no requirement to collect data from different channels and organize it into a single platform. All you have to do is integrate TaxJar, it will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to file their sales taxes either manually or via the AutoFile feature. In this review, we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When the time is right for the filing of income tax returns The team will guide you on how to manage the tax returns. But, it is up to you and your team members to finish the tax returns on time. TaxJar is only there to guide you on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales tax through recording, and then processing it. There could be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your team can access everything you require, including an inventory of your transactions, reports and the data.
The most appealing aspect of this option is the fact that 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 track when your following payments are due.
The dashboard allows you to see the total sales tax within your company. You can also export the information in a CSV file in case you require it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. It means you don’t need to search for your documents when you’re in a pinch. Even if you already have your accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar offers tutorials and training, not just for their platform , but also for anything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more info. Additionally the sales tax calculator should be helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the best plan to help you 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 have access to their AI tax advice.
If you’re a small business proprietor, then this program will be ideal for you. It might not include all of TaxJar’s features, but it has all the basics you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for a bit more than just the standard features, then the Professional plan might be the right one for you. It starts at $99, however, it could go up 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 features, you also get access to their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you own a huge company, you may need to choose the Premium plan instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, API integrations, team members and AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar External Sales
However, they did say that this plan is customized for every user. Therefore, the cost will differ in line with what you require to run your business.
Free Trial
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to gauge whether the software is a good fit for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of using TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you 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 is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not 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 can be a great platform businesses with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it assist you in keeping track of your revenue and products however, it will also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you reduce time and keep the track of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this can definitely help you get your mind around it. TaxJar External Sales
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ TaxJar External Sales
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to US$ before TaxJar will calculate your tax.
