Taxes are always one of the most difficult things to handle regardless of whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the funds to hire an accountant, performing the task on yourself can be dangerous. If you make a mistake it could mean you have to do it all over again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement, we have no choice.
So , what is the best way to deal with it?
We can make our lives easier with tools such as TaxJar.
We’ll look at this well-known life-saving tool and how it can help you. Even though this is a long read, you should be able to assess whether TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Illinois Warehouses
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check you have a tax accounting software is compatible along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one place. That way, there’s no requirement to collect data from different channels and then organize it on one platform. All you have to do is connect TaxJar and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. In our review we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage the tax returns. It is up for you and your team members to complete the process in time. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. With this feature, everything is automated, from calculating sales tax through recording, and then processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be put together into a single dashboard via 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 best part about this option is the fact that it allows you to update automatically every day. They not only let you keep track of how much you’ve earned, but they also help you determine when your next payment is due.
The dashboard allows you to fully view the total sales tax for your business. 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 your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. That means you won’t have to scramble for your documents when you need them in a pinch. Even if you already have your accountant, this function can make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operational costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just on their platform, but all things that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more details. Apart from that their sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb features, but they can be too costly for your business. For this reason, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They claim that it’s the most suitable plan for you to help you with filing requirements or reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small-scale company owner, this plan will be ideal for you. It might not include all the features of TaxJar but it comes with the essentials that you need.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking to get that is more than the basics and options, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the starter 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 access to APIs, as well as advanced CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to go for premium plans instead. It includes all of the features that you require to make your tax filing easier. In addition, they offer unlimited data import integrations as well as API integrations, team members as well as AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Illinois Warehouses
However, they did say that this plan is tailor-fit to each user. So the costs will vary according to what you require for your business.
Luckily, you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine whether the software is the right choice for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online 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.
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business however, it will assist you in meeting the deadlines you set. It is also a great opportunity for accountants since they have the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re in a region with a lot of tax regulations, this will definitely help you get your head around it. TaxJar Illinois Warehouses
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole procedure easy to complete then you’re better to do it on your own.
FAQ TaxJar Illinois Warehouses
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in USdollars. If you’re using another currency, you will need to convert it into US$ before TaxJar will calculate your tax.