Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. More so if you don’t have a degree in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the budget to employ an accountant, performing the task on your own could be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory, we have no choice.
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 well-known life-saving tool and how it can assist you. Even though this is a long read it is possible to assess whether TaxJar is what you need right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar For Spree
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to keep everything simple and organized. Let’s explore their features and services.
Features and services
One of the first things you’ll need to ensure is that your accounting tax platform perfectly integrates with your sales channel. If you have multiple sales channels, you must keep everything in place. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. This means that there is no requirement 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 take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. In this review, we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing tax returns for income The team will guide you on managing the tax returns. But, it is up for you and your team members to finish the tax returns on time. TaxJar is there to provide guidance on what you should accomplish, but not manage it.
If you’d 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. With this feature, everything will be automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to all the information you need, like the list of transactions, reports and data.
The most appealing aspect of this option is the fact that they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve accumulated and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the overall sales taxes in your business. Additionally, you can export the information as CSV format. CSV file in case you require it in your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you’re in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax in advance will help you plan your funds more effectively. You’ll be aware of the budget you have available for other operational costs.
What’s more is that TaxJar offers tutorials and training, not just for their platform , but also for anything related to sales tax. Check out their guides, webinars, as well as their blog to find more info. In addition their sales tax calculator is helpful if you’re planning on take on the entire task 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. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They claim that it’s the most effective plan if you need help with filing requirements or reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller company owner, this plan should be ideal for you. It may not offer all of TaxJar’s features, but it has the basic features you require.
You can also contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something different from the basics, 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.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as API integrations, team members, and AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. costs you. TaxJar For Spree
However, they did say that this plan is tailor-fit for every user. So the costs will vary in line with what you require for your business.
It’s a good thing that you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should be enough time to gauge whether the service is an excellent 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 advantages and disadvantages of making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then you should try this.
Not only will it assist you in keeping track of the sales and profits of your business It can also help you meet the deadlines you set. It is also a great option for accountants as they have tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to reduce time and keep the track of each deadline and obligation you have to meet. If you’re in a region with a lot of tax regulations, this will surely help you wrap your mind around it. TaxJar For Spree
But if handling your taxes is straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure simple to follow, you might be better off doing it on your own.
FAQ TaxJar For Spree
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar can calculate your tax.