Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. If you don’t have the budget to hire an accountant, performing the task on your own can be risky. If you miss one detail it could mean you have to do it all over again!
Most people want to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
We can make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. Although this is quite an extensive read it is possible to assess whether TaxJar is what you need today.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What is TaxJar TaxJar Free
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of the sales channels you use to ensure compliance with sales taxes. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to make their business more neat and simple. Let’s look into their features and services.
Services and features
One of the first things you’ll need to ensure is your tax-reporting software perfectly integrates along with sales funnels. If you’re using multiple sales channels, you must ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. This means that there is no need to collect data from different channels and then organize it on one platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income, the team will instruct you on how to manage these. However, it will be up to you and your team to complete everything within the timeframe. TaxJar is only there to provide guidance on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. With this feature, everything is automated, from calculating sales tax in order to record and process them. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, such as an inventory of your transactions, reports and data.
The best part about this option is the fact that they allow you to automatically update every day. Not only will they let you know how much you’ve collected however, they can also help you determine when your next payments are due.
Their dashboard also allows you to see the sales tax totals for your business. It is also possible to export your data to a CSV file in case you require it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this function can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything connected to sales tax. You can check out their webinars, guides as well as their blog to find more details. In addition the sales tax calculator can be 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 what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not offer all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking to get that is more than the basic features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
What is the difference from the starter plan?
In addition to accessing all of the Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to choose an upgrade instead. It comes with all the features that you require to aid in your tax preparation. In addition, they offer unlimited import integrations of data as well as Integrations with APIs, teams of users, and AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Free
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ depending on what you need for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge if the platform is the right choice for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a break. To sum it all up, here are the pros and cons of making use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If that’s what you do, then you should try this.
Not only will it aid in tracking your products and revenue It can help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this will certainly help you to get your mind around it. TaxJar Free
But if handling taxes is easy If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the entire process easy to do then you’re better to do it on your own.
FAQ TaxJar Free
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you will need to convert it into USUSD before TaxJar determines your tax.