Taxes are always one of the hardest things to do, whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the budget to engage an accountant making it your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. But since it’s required 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 tool and how it can assist you. While this is a long read but you’ll be able to gauge whether TaxJar is the tool you require in the present.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar? TaxJar Help
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for the entire life cycle. In addition, you can apply it in all of your sales channels to ensure that you are in 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 different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check is your tax-reporting software is compatible along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. This means that there is no need to gather information from multiple sources and sort it into one platform. All you have to do is connect TaxJar it will handle 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 of the platforms they can integrate with:
TaxJar lets customers make sales tax filings either manually or via TaxJar’s AutoFile feature. In our review we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns, the team will instruct you on managing them. However, it will be up to you and your team to finish the tax returns in time. TaxJar is only there to help you understand what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating sales tax through recording, and then processing it. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you need, like a list of your transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. Not only will they let you keep track of how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes within your company. You can also export the information as the form of a CSV file if you need it to aid in financial planning and accounting processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even when you already have your accountant, this feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar provides training and tutorials, not just on their platform, but everything related to sales tax. Check out their guides, webinars, or blog posts for additional info. Additionally, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes 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. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the best plan for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a smaller business manager, the plan should be ideal for you. It might not include all of TaxJar’s features however, it does include all the basics you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for something different from the standard features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it if you add custom features.
So how different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive company, you may need to choose premium plans instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations, Integrations with APIs, teams of users, and AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal how much the Premium plan costs you. TaxJar Help
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require for your company.
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still looking into different options, they offer 30 days of free trial. This should be 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 be aware of TaxJar let’s take a break. To sum it all up, here are the advantages and disadvantages of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- You can track several sales channels
- AutoFile limit is based on 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 clearly laid out TaxJar can be a great platform companies that have multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it aid in tracking your revenue and products, but it can help you meet your deadlines. It’s also an excellent option for accountants as they have tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
Utilizing TaxJar can allow you to save more time while keeping the track of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this will certainly help you to get your mind around it. TaxJar Help
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Help
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using another currency, you will need to convert it to USdollars before TaxJar can calculate the tax.