Taxes have always been among the hardest things to do regardless of whether you run your own business or not. Particularly if you don’t have a degree 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 enough money to hire an accountant, making it your own can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. Although this is quite lengthy but you’ll be able to determine if TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Headquarters
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting platform is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. So, there’s no need to gather information from multiple sources and organize it into one platform. All you have to do is integrate TaxJar then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. For this review, we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. Once the time comes for filing tax returns for income TaxJar will train you on how to manage these. It is up to you and your team to complete everything on time. TaxJar is there to provide guidance on what you need to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing them. There could be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. The orders you place through your online channels can be compiled into one dashboard using this platform. From there you and your staff can access everything you need, like a list of your transactions, reports, as well as information.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only will they let you know how much you’ve collected however, they can also help you keep track of when the next payments are due.
Their dashboard can also allow you to see the total sales tax in your business. Additionally, you can export the data as a CSV file in case you require it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to search for your documents whenever you’re in the event of a need. Even if you already have your accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll know better how much budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional info. Apart from that their sales tax calculator should 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. Certain platforms have amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small business owner, this plan could be perfect for you. It may not offer all the features of TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get that is more than the standard features and options, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up if you add custom features.
How different is it from the original plan?
Apart from 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. You can also get 12 AutoFiles for free each year.
If you have a massive company, you may need to go for the Premium plan instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data as well as API integrations, team users as well as AutoFiles.
They also have a staff who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Headquarters
However, they did mention that this plan is customized to each user. The cost of the plan will be different in line with what you require to run your business.
It’s a good thing that you don’t have to risk your money to see if this platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you should try this.
Not only will it aid in tracking your revenue and products It can assist you in meeting your deadlines. It is also a great option for accountants as they have tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline and requirement you have to fulfill. If you’re living in a place with complicated tax laws, this will definitely help you get your head around it. TaxJar Headquarters
If handling taxes is easy, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure easy to complete then you’re better to do it on your own.
FAQ TaxJar Headquarters
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it into USdollars before TaxJar can calculate your tax.