Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford enough money to hire an accountant, performing the task on yourself can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
What is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. While this is an extensive read, you should be able to assess whether TaxJar is the tool you require right now.
Prefer watching videos rather than watch them? Take a look at 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 get right into it.
What is TaxJar? TaxJar Fot Free
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting software perfectly integrates along with sales funnels. If you’re using multiple sales channels, you must keep everything in place. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. This means that there is no need to collect information from multiple sources and organize it into a single platform. All you have to do is to integrate TaxJar and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to file their sales taxes either manually or via their AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to the filing of income tax returns TaxJar will train you on how to handle these. But, it is up to you and your team members to complete the process in time. TaxJar is there to guide you on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated, from calculating taxes on sales to recording and processing them. But, it is possible to incur additional costs if the feature is not part of 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 combined into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to all the information you need, like the list of transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. Not only can they help to know the amount you’ve collected however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the total sales tax in your business. It is also possible to export the data to CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to scramble for your documents when you need them in a pinch. Even if you already have your accountant, this feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but everything related to sales tax. Check out their guides, webinars, as well as their blog to find more information. Additionally, their sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. At present, 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 in filing and reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business owner, this plan should be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the standard features Professional could be the one for you. The price starts at $99 but it can go higher by adding custom features.
How different is it from the basic plan?
Apart from having access to every one of Starter plan’s options, you also have access to their support 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 company, you may need to go for premium plans instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports Integrations with APIs, teams of users, and AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Fot Free
However, they did say that this plan is customized for each user. The cost of the plan will be different according to what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to see whether the software is an excellent fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your company.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it help you track your revenue and products however, it will assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they provide tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping track of every deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this will definitely help you get your head around the subject. TaxJar Fot Free
However, if managing taxes is easy, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to track everything. If you’re finding the entire procedure simple to follow then you’re better to do it by yourself.
FAQ TaxJar Fot Free
Which 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 connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in USdollars. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar will calculate your tax.