Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. If you don’t have the funds to engage an accountant doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can assist you. While this is lengthy but you’ll be able to gauge whether TaxJar is 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 the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar Illinos
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 across all of the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure you have a tax accounting platform is compatible along with sales funnels. If you’re selling through multiple channels, it is essential to keep everything in place. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. So, there’s no requirement to collect data from different channels and organize it into a single platform. All you need to do is integrate TaxJar, it will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers submit their sales tax manually or through TaxJar’s AutoFile feature. In our review we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on managing these. It is up to you and your staff to complete the process on time. TaxJar is there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your staff will have access to all the information you require, including a list of your transactions, reports and data.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to see the total sales tax within your company. Additionally, you can export your data as CSV format. CSV file in case you require it for your financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but all things related to sales tax. You can look through their guides, webinars, or blog posts for additional info. Additionally the 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 provide amazing features, but they can be too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing tiers and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small business owner, this plan could be perfect for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get different from the basics and options, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge business, you might need to opt for premium plans instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports, API integrations, team users as well as AutoFiles.
They also have a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan will cost you. TaxJar Illinos
However, they did mention that the plan is custom-made for each user. So the costs will vary in line with what you require to run your business.
Luckily, 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 30 days of free trial. This should be enough time to gauge whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar Let’s relax. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for 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
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for businesses with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to help you track the sales and profits of your business It can assist you in meeting your deadlines. It is also a great option for accountants as they have a Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar can help you save more time while keeping the track of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will definitely help you get your mind around it. TaxJar Illinos
But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Illinos
What areas does TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in US$. If you’re using another currency, you will need to convert it to USUSD before TaxJar will calculate the tax.