Taxes are always one of the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have the funds to employ an accountant, doing it on yourself can be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can assist you. Although this is quite an extensive read it is possible to gauge whether TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar? TaxJar Gross Sales Meaning
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting platform seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar lets you display your key data in one location. So, there’s no need to collect data from different channels and organize it into one platform. All you have to do is to integrate TaxJar, and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. In our review we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for filing tax returns for income TaxJar will train you on managing the tax returns. But, it is up for you and your team to complete the process within the timeframe. TaxJar will only guide you on what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out any forms manually. With this feature, everything will be automated from calculating sales taxes to recording and processing them. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, such as the list of transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is it lets you to update automatically every day. Not only will they let to know the amount you’ve collected, but they also help you keep track of when the next payment is due.
The dashboard allows you to fully view the sales tax totals for your business. You can also export the data to CSV format. CSV file if you need it to aid in financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to hunt for your paperwork when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides or blog posts for additional details. Additionally, their sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most suitable plan for you to help you with filing requirements and reporting. It also includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale company manager, the plan should be ideal for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
You can also contact their customer support via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for a bit more than just the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up by adding custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to choose premium plans instead. It has all of the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports API integrations, team members as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Gross Sales Meaning
However, they did say that this plan is tailor-fit for each user. So the costs will vary depending on what you need for your company.
Luckily, 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 different options, they offer 30 days of free trial. This should be enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using 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 on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple 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.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to help you track your products and revenue, but 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 get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can help you get more done while keeping track of every deadline and obligation you have to meet. If you live in a region with a lot of tax regulations, this will definitely help you get your mind around it. TaxJar Gross Sales Meaning
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure simple to follow, you might be better to do it by yourself.
FAQ TaxJar Gross Sales Meaning
Which 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 for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into USdollars before TaxJar will calculate your tax.