Taxes are always one of the hardest things to do regardless of whether you run an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford the funds to employ an accountant, making it yourself can be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. Even though this is lengthy, you should be able to determine if TaxJar is exactly what you need today.
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 TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar TaxJar For Quickbooks
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it in all of your channels of sales to make sure you’re in compliance with your sales taxes. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you need 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 lets you display your critical metrics in one spot. That way, there’s no need to gather data from different channels and then organize it on a single platform. All you have to do is to integrate TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers make sales tax filings manually or through the AutoFile feature. For this review, we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing income tax returns The team will guide you on how to manage them. But, it is up for you and your team to finish the tax returns in time. TaxJar is there to help you understand 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 submit the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales tax through recording, and then processing them. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your staff will have access to all the information you need, like an inventory of your transactions, reports, as well as the data.
The greatest benefit of this option is the fact that they allow you to update automatically every day. Not only can they help you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to see the total sales tax within your company. Additionally, you can export the information as the form of a CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. It means you don’t need to hunt for your paperwork when you’re when you’re in a pinch. Even when you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operational expenses.
The best part is that TaxJar offers training and tutorials not only for their platform but for anything related to sales tax. You can check out their webinars, guides, and blog for more information. In addition the sales tax calculator should be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance in filing and reporting. It includes sales tax reporting, four free yearly AutoFiles, and an CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller business manager, the plan could be perfect for you. It may not have 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. Additionally, you’ll have access to their integration tools.
If you’re looking for that is more than the standard features, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s features, you also have their support via phone, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive company, you may need to opt for an upgrade instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports, API integrations, team users, and AutoFiles.
They also have a staff dedicated in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. TaxJar For Quickbooks
However, they did say that the plan is custom-made for every user. The cost of the plan will be different according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to determine whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to help you track your products and revenue It can also help you meet your deadlines. This is also an excellent platform for an accountant since they have tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will definitely help you get your mind around it. TaxJar For Quickbooks
However, if managing taxes is easy, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. If you find the entire procedure easy to complete then you’re better to do it on your own.
FAQ TaxJar For Quickbooks
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in US$. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar determines your tax.