Taxes have always been among the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the budget to employ an accountant, doing it on yourself can be dangerous. If you miss one detail, you might have to redo things again!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. Even though this is lengthy but you’ll be able to determine if TaxJar is exactly what you need right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Golive
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 the entire life cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s take a look at their features and services.
Features and services
One of the first things you’ll want to check you have a tax accounting system is compatible in conjunction with the sales channels you use. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. This means that there is no need to collect data from different channels and then organize it on one platform. All you need to do is connect TaxJar and the platform will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. In our review we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When the time is right for the filing of income tax returns The team will guide you on managing the tax returns. But, it is up to you and your staff to complete everything within the timeframe. TaxJar will only help you understand 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 any forms manually. Through this feature, everything will be automated from calculating sales taxes in order to record and process it. There could be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. The orders you place through your online channels can be compiled into one dashboard using this platform. From there you and your team will have access to everything you need, like the list of transactions, reports, and the data.
The best part about this option is the fact that they allow you to update automatically every day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows users to view in detail the overall sales taxes for your business. Additionally, you can export the data in CSV format. CSV file if you need it in your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps you 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 need them in a pinch. Even if you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational expenses.
The best part is that TaxJar offers training and tutorials, not just on their platform, but for anything related to sales tax. You can look through their webinars, guides, as well as their blog to find more information. Apart from that the sales tax calculator should 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 offer superb capabilities, but they’re often too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It includes the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller business proprietor, then this program will be ideal for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for different from the basic features Professional might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to choose the Premium plan instead. It has all of the features needed to aid in your tax preparation. In addition, they offer unlimited data import integrations as well as API integrationsfor team members and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. TaxJar Golive
However, they did mention that the plan is custom-made for every 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 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 give you enough time to see whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated 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 applicable for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with numerous sales channels, and that utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it aid in tracking your revenue and products It can help you meet your deadlines. It is also a great platform for an accountant since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to meet. If you’re living in a place with complicated tax laws, this will certainly help you to get your mind around it. TaxJar Golive
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire process easy to do, you might be better off doing it on your own.
FAQ TaxJar Golive
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into US$ prior to when TaxJar can calculate the tax.