Taxes have always been one of the hardest things to do regardless of whether you’re running your own business or not. Even more so if you do not have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford enough money to hire an accountant, performing the task on your own could be dangerous. If you miss one detail, you might need to repeat the process!
Almost everyone wants to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Even though this is an extensive read it is possible to gauge whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What is TaxJar? TaxJar Founded On
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting system is compatible along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one spot. This means that there is no need to collect data from different channels and sort it into one platform. All you have to do is integrate TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via their AutoFile feature. In the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, 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 managing the tax returns. However, it will be up for you and your team to finish the tax returns in time. TaxJar will only guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything will be automated from calculating sales tax in order to record and process it. However, there might be additional costs if the feature is you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. From there you and your team will have access to all the information you need, like a list of your transactions, reports, as well as data.
The best part about the feature you’ve chosen is it allows you to update automatically every day. Not only will they let to know the amount you’ve collected, but they also help you determine when your next payments are due.
Their dashboard also allows you to fully view the sales tax totals within your company. You can also export the information in a CSV file, if you want to use it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just on their platform, but everything connected to sales tax. You can check out their webinars, guides, as well as their blog to find more info. Additionally the sales tax calculator can be beneficial when 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. Some platforms offer superb capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as an CSV import. With the starter plan, you have access to 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 of TaxJar, but it has the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for something a bit more than just the basic features Professional could be the one for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to opt for an upgrade instead. It has all of the features needed to aid in your tax preparation. Moreover, they allow unlimited import integrations of data API integrationsfor team users and AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal how much the Premium plan is going to cost. TaxJar Founded On
However, they did say that the plan is custom-made to each user. So the costs will vary depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still considering various options, they provide a 30-day free trial. This should be enough time to see whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of the use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners 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 numerous platforms. If that sounds like what you do, then you ought to try this.
Not only can it aid in tracking the sales and profits of your business It can also help you meet your deadlines. It is also a great opportunity for accountants since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you reduce time and keep on top of each deadline or requirement you need to fulfill. If you’re in an area with complex tax regulations, this will surely help you wrap your head around it. TaxJar Founded On
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire process easy to do, you might be better to do it on your own.
FAQ TaxJar Founded On
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar will calculate the tax.