Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford the funds to engage an accountant doing it on your own can be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
What can we do about it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving device and how it can help you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Integration
The company was 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 your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to make their business more simple and organized. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is your tax-reporting platform perfectly integrates along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one place. This means that there is no requirement to collect information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar, and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. In our review we’ll look at both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for the filing of income tax returns The team will guide you on how to handle them. But, it is up to you and your staff to complete everything within the timeframe. TaxJar will only guide you on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales tax in order to record and process them. But, it is possible to incur additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your team will have access to everything you require, including an inventory of your transactions, reports, and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. They not only let you keep track of how much you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard also allows users to view in detail the total sales tax within your company. It is also possible to export the information to the form of a CSV file, if you want to use it to aid in accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials, not just for their platform but everything related to sales tax. You can look through their webinars, guides, and blog for more info. In addition, their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller business manager, the plan will be ideal for you. It may not offer all the features of TaxJar but it comes with all the basics you require.
You can also contact their customer support via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking to get a bit more than just the basics Professional may be the best option for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the original plan?
In addition to accessing each of Starter plan’s features, you also get access to their phone customer support access to APIs, as well as sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to choose the Premium plan instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations Integrations with APIs, teams of members, and AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge how much the Premium plan costs you. TaxJar Integration
But they did state that this plan is customized for each user. The cost of the plan will be different according to what you require for your company.
Free Trial
Fortunately, you don’t need to risk your money to find out if the platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to see whether the service is the right choice for you.
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Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of the use of TaxJar for your company.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- AutoFile limit is 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 can be a great platform businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then should try this.
Not only will it assist you in keeping track of your revenue and products however, it will assist you in meeting your deadlines. It is also a great option for accountants as they provide a Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar Integration
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the whole procedure easy to complete, you might be better to do it on your own.
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FAQ TaxJar Integration
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as 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 with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar determines your tax.
