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 any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to employ an accountant, doing it on your own can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
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 always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can help you. Even though this is lengthy, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar TaxJar Faq
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to ensure is your tax-reporting platform is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your key metrics in one place. This means that there is no need to gather information from multiple sources and sort it into one platform. All you have to do is to integrate TaxJar, and the platform will do the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on managing the tax returns. It is up to you and your staff to complete the process within the timeframe. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you need, such as an inventory of your transactions, reports and data.
The best part about this option is the fact that it allows you to automatically update every day. Not only will they let you keep track of how much you’ve earned however, they can also help you track when your following payment is due.
Their dashboard also allows users to view in detail the overall sales taxes within your company. Additionally, you can export the information as CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to hunt for your paperwork when you’re in the event of a need. Even even if you already have an accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but for anything related to sales tax. Check out their webinars, guides, as well as their blog to find more info. In addition 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 are aware of how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements and reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small company manager, the plan should be perfect for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
Professional
If you’re looking for something that is more than the basic features Professional may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge company, you may need to opt for the Premium plan instead. It comes with all the features you need to make your tax filing easier. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of users, and AutoFiles.
There is also a team who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar Faq
But they did state that the plan is custom-made for every user. So the costs will vary according to what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to gauge whether the service is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features save 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 can be integrated with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar can be a great platform companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you ought to try this.
Not only can it aid in tracking your products and revenue, but it can help you meet your deadlines. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you get more done while keeping the track of each deadline and requirement you have to meet. If you’re in an area with complex tax laws, this will definitely help you get your head around the subject. TaxJar Faq
If handling your taxes is simple If it isn’t, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure easy to complete, you might be better in doing it all by yourself.
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FAQ TaxJar Faq
Which areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USdollars before TaxJar will calculate your tax.
