Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have enough money to engage an accountant performing the task on your own can be risky. If you overlook one thing it could mean you have to do it all over again!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do ?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and explain how it can assist you. Although this is quite a long read but you’ll be able to assess whether TaxJar is the tool you require today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar For Eaby
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and can be completed in a matter of 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 it help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s take a look at their features and services.
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Services and features
Integration
One of the first things you’ll need to ensure is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar lets you display your critical data in one location. So, there’s no requirement to collect information from multiple sources and sort it into a single platform. All you need to do is connect TaxJar then the system will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage the tax returns. But, it is up for you and your staff to complete the process on time. TaxJar is only there to guide you on what you need to do but not handle it.
If you 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 taxes to recording and processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team can access everything you need, like the list of transactions, reports, as well as data.
The best part about the feature you’ve chosen is they allow you to update automatically every day. They not only let you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax for your business. Additionally, you can export your data to the form of a CSV file in case you require it for your process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to hunt for your paperwork whenever you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have to cover other operational costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just on their platform, but all things related to sales tax. Check out their guides, webinars, or blog posts for additional info. Additionally their sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine 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 take a look at TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. They say it’s the most effective plan if you need help with filing requirements or reporting. It comes with the tax on sales, 4 autofiles for free each year, and an CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small business manager, the plan could be ideal for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration tools.
Professional
If you’re looking for a bit more than just the standard features Professional may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge company, you may need to choose premium plans instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited data import integrations API integrationsfor team members as well as AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar For Eaby
However, they did mention that the plan is custom-made for every user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to gauge whether the service is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes many platforms. If this sounds like the way you do, then you should try this.
Not only will it aid in tracking your revenue and products It can also help you meet your deadlines. It’s also an excellent platform for an accountant since they have tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep track of every deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can definitely help you get your head around it. TaxJar For Eaby
However, if managing taxes is easy, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire procedure easy to complete, you might be better off doing it on your own.
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FAQ TaxJar For Eaby
Which areas does TaxJar offer API support?
TaxJar currently supports countries like those of 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 to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into US$ before TaxJar determines the tax.
