Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. In the event that you do not have the budget to employ an accountant, performing the task on your own can be dangerous. If you miss one detail, you might have to redo things again!
Most people want to skipping this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can assist you. While this is a long read it is possible to determine if TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar TaxJar How Long Does First Import Take?
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with sales tax requirements. It simplifies the processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used 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 widely used by online business owners to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure you have a tax accounting software is compatible along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your critical data in one location. That way, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar, and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. For our review we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns The team will guide you on how to handle these. However, it will be up for you and your team to complete the process in time. TaxJar will only provide guidance on what you need to accomplish, but not manage it.
If you’d 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 taxes to recording and processing them. But, it is possible to incur extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you require, including a list of your transactions, reports, as well as the data.
The best part about the feature you’ve chosen is it allows you to automatically update every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you determine when your next payments are due.
The dashboard allows users to view in detail the overall sales taxes within your company. It is also possible to export the data as a CSV file if you need it to aid in financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to search for your documents when you’re in a pinch. Even even if you already have an accounting firm, the feature can make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but all things related to sales tax. You can look through their webinars, guides, as well as their blog to find more details. Apart from that their sales tax calculator is helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They claim that it’s the best plan if you need help in filing and reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small business manager, the plan will be perfect for you. It may not offer all of TaxJar’s features but it comes with all the basics you require.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for something that is more than the basic features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you have a massive enterprise, you may want to go for premium plans instead. It includes all of the features needed to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of members and AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the amount that the Premium plan will cost you. TaxJar How Long Does First Import Take?
However, they did say that this plan is customized for each user. Therefore, the cost will differ depending on what you need for your business.
Free Trial
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 looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is a good fit for you.
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Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save 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 is possible to integrate it with other platforms.
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access 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 that have many sales channels and utilizes many platforms. If this sounds like the way you do, then you ought to try this.
Not only can it help you track your products and revenue It can assist you in meeting your deadlines. It is also a great option for accountants as they offer the Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Using TaxJar can help you reduce time and keep the track of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this can certainly help you to get your mind around it. TaxJar How Long Does First Import Take?
If handling taxes is easy and straightforward, then TaxJar could be a waste of expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the entire process easy to do, you might be better to do it on your own.
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FAQ TaxJar How Long Does First Import Take?
Which areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar will calculate your tax.
