Taxes have always been one of the hardest things to do regardless of whether you’re running your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the funds to employ an accountant, making it yourself can be dangerous. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. But since it’s required, we have no choice.
So , what is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can assist you. While this is a long read it is possible to assess whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar Illionois Locations
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to 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 can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to make sure you have a tax accounting system seamlessly works well with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. This means that there is no need to gather data in multiple channels and then organize it on a single platform. All you need to do is connect TaxJar, and the platform will do all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to make sales tax filings manually or through the AutoFile feature. In this review, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. When the time is right for filing income tax returns TaxJar will train you on how to manage these. However, it will be up to you and your team members to complete the process in time. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. This feature will ensure that everything will be automated from calculating sales taxes in order to record and process it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform, you and your team can access everything you need, such as an inventory of your transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is they allow you to automatically update every day. Not only will they let you keep track of how much you’ve collected and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to see the total sales tax within your company. You can also export the data to CSV format. CSV file if you need it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even when you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your funds better. You’ll know better how much budget you have to cover other operational costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can check out their guides, webinars, and blog for more information. In addition their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance with filing requirements or reporting. It comes with the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small business proprietor, then this program could be perfect for you. It might not include all the features of TaxJar, but it has the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something a bit more than just the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations as well as API integrationsfor team members as well as AutoFiles.
They also have a staff who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Illionois Locations
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your company.
Luckily, you don’t have to bet your life on it to determine if this service is right for you. If you’re still looking into various options, they provide a 30-day free trial. This should give you enough time to see whether the software is the right choice for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it 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 to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you must try TaxJar.
Not only can it assist you in keeping track of your products and revenue, but it can help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you save more time while keeping track of every deadline or requirement you need to meet. If you’re living in an area with complex tax regulations, this will definitely help you get your head around the subject. TaxJar Illionois Locations
However, if managing taxes is easy, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Illionois Locations
What areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar for easier 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 a different currency, you’ll have to convert it to USdollars before TaxJar determines your tax.