Taxes have always been among the hardest things to do regardless of whether you run a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to engage an accountant doing it on yourself can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can always make life easier with tools such as TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. While this is lengthy it is possible to assess whether TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Fees
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is simple and organized. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to maintain everything in line. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your key metrics in one place. This means that there is no need to gather data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms that they can connect with:
TaxJar allows customers to submit their sales tax either manually or via their AutoFile feature. In our review we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns TaxJar will train you on how to manage these. But, it is up for you and your staff to complete the process within the timeframe. TaxJar will only provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process it. However, there might be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. Your orders from 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, such as a list of your transactions, reports, as well as the data.
The best part about the feature you’ve chosen is it allows you to automatically update every day. They not only let you keep track of how much you’ve collected, but they also help you track when your following payments are due.
The dashboard allows users to view in detail the sales tax totals within your company. It is also possible to export your data to the form of a CSV file in case you require it to aid in financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to search for your documents when you’re in a pinch. Even even if you already have an accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know exactly how much budget you have to cover 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. You can look through their webinars, guides, as well as their blog to find more information. Apart from that, their sales tax calculator should be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at 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 is priced at $19. They say it’s the most suitable plan for you to help you in filing and reporting. It also includes the tax on sales, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller company proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar but it comes with the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking to get a bit more than just the basics, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to go for an upgrade instead. It includes all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports API integrations, team users and AutoFiles.
There is also a team that is devoted in managing your accounts. They don’t reveal the amount that the Premium plan costs you. TaxJar Fees
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need for your business.
Fortunately, you don’t need to risk your money to determine if this service is the right one for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to see if the platform is a good fit for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a break. To summarize we’ll go over the pros and cons of the use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- 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.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of your revenue and products It can help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
The use of TaxJar will help you save more time while keeping the track of each deadline and requirement you have to meet. If you’re in a place with complicated tax laws, this will surely help you wrap your head around it. TaxJar Fees
But if handling taxes is easy, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the entire process easy to do, you might be better to do it by yourself.
FAQ TaxJar Fees
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like 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 for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n US$. If you’re using a different currency, you’ll have to convert it to US$ before TaxJar determines the tax.