Taxes have always been one of the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. If you don’t have the funds to engage an accountant doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do about it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can benefit you. While this is lengthy it is possible to assess whether TaxJar is what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Free Trial
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including 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 neat and simple. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is that your accounting tax platform perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to display your most important data in one location. That way, there’s no need to gather data from different channels and then organize it on one platform. All you have to do is integrate TaxJar then the system will do all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. In our review we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns The team will guide you on how to handle these. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar will only provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating sales tax through recording, and then processing them. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, like an inventory of your transactions, reports, and information.
The best part about this feature is that it allows you to update automatically every day. Not only will they let you keep track of how much you’ve earned however, they can also help you determine when your next payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. Additionally, you can export the information to the form of a CSV file, if you want to use it in your process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll be aware of the budget you have to cover other operational expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform , but also everything that has to do with sales tax. You can check out their guides, webinars, or blog posts for additional details. In addition the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance in filing and reporting. It comes with taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small company proprietor, then this program should be perfect for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for something different from the basics and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to choose premium plans instead. It includes all of the features that you require to help with your taxes. In addition, they offer unlimited integrations with data imports Integrations with APIs, teams of members and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Free Trial
However, they did mention that this plan is customized for every user. The cost of the plan will be different depending on what you need to run your business.
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see whether the service is a good 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 sum it all up, here are the pros and cons of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only can it aid in tracking your products and revenue It can assist you in meeting your deadlines. This is also an excellent option for accountants as they provide tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Using TaxJar will help you reduce time and keep track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax regulations, this will definitely help you get your head around it. TaxJar Free Trial
If handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Free Trial
Which areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to USUSD prior to when TaxJar will calculate the tax.