Taxes have always been one of the hardest things to do, whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to engage an accountant performing the task on yourself can be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to skip this step. But since it’s required, we have no choice.
So what can we do about it?
We can always make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and how it can benefit you. While this is lengthy it is possible to assess whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Horror Stories Nexus
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Additionally, you can use it across all of your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s explore their features and services.
Services and features
One of the first things you’ll want to check is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you must maintain everything in line. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. This means that there is no need to collect data in multiple channels and sort it into one platform. All you have to do is integrate TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using the AutoFile feature. For this review, we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When the time is right for filing income tax returns, the team will instruct you on managing them. But, it is up to you and your team members to complete everything on time. TaxJar will only provide guidance on what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing it. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you require, including a list of your transactions, reports, as well as the data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. They not only let to know the amount you’ve collected however, they can also help you track when your following payments are due.
Their dashboard also allows you to see the sales tax totals within your company. Additionally, you can export the information to the form of a CSV file, if you want to use it in your accounting and financial planning processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re in a pinch. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operational costs.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also all things that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more details. In addition the sales tax calculator should be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important 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 look into TaxJar’s pricing levels and what each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the most effective plan for those who need assistance in filing and reporting. It also includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale business owner, this plan will be ideal for you. It might not include all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something different from the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher if you add custom features.
How different is it from the original plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to opt for premium plans instead. It comes with all the features needed to make your tax filing easier. Moreover, they allow unlimited integrations with data imports, API integrationsfor team members and AutoFiles.
They also have a team who are devoted to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Horror Stories Nexus
But they did state that this plan is customized for each user. Therefore, the cost will differ in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of using TaxJar for your business.
- Does the plan include 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 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 have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only will it aid in tracking the sales and profits of your business, but it can also help you meet your deadlines. It is also a great opportunity for accountants since they have tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this can surely help you wrap your mind around it. TaxJar Horror Stories Nexus
But if handling your taxes is simple and straightforward, then TaxJar might not be a good investment. 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 process easy to do, you might be better in doing it all by yourself.
FAQ TaxJar Horror Stories Nexus
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar can calculate your tax.