Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have enough money to hire an accountant, performing the task on your own can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do about it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can help you. While this is lengthy but you’ll be able to gauge whether TaxJar is what you need today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Fob Sales Tax
The company was founded in 2013 TaxJar is an online platform that assists you in automating 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 across all of your sales channels to ensure compliance with your sales taxes. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s explore their features and services.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system is compatible in conjunction with the sales channels you use. 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 key metrics in one place. So, there’s no need to collect information from multiple sources and sort it into a single 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 to assist with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to manage these. But, it is up for you and your team to complete everything in time. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything will be automated from calculating sales taxes to recording and processing it. But, it is possible to incur additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. All orders made through 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 information.
The best part about this feature is that it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned, but they also help you track when your following payments are due.
Their dashboard can also allow you to fully view the total sales tax in your business. Additionally, you can export your data to a CSV file in case you require it for your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. It means you don’t need to search for your documents when you need them when you’re in a pinch. Even when you already have your accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operating costs.
But what’s even better is that TaxJar offers training and tutorials not only on their platform, but for anything connected to sales tax. You can check out their webinars, guides, as well as their blog to find more details. Apart from that the 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 establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing structures and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small business manager, the plan should be ideal for you. It may not have all the features of TaxJar but it comes with the basic features you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for different from the basic features Professional could be the one for you. It starts at $99, however, it could go up if you add custom features.
So how different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to choose the Premium plan instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports API integrationsfor team members as well as AutoFiles.
They also have a team dedicated for managing the account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Fob Sales Tax
But they did state that this plan is customized for each user. Therefore, the cost will differ 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 right for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to determine if the platform is a good fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To summarize Here are the pros and cons of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only valid for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it aid in tracking your revenue and products, but it can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they offer tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline or requirement you need 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 Fob Sales Tax
But if handling taxes is easy, 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 everything. If you find the whole procedure simple to follow then you’re better to do it on your own.
FAQ TaxJar Fob Sales Tax
What areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar can calculate your tax.