Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to engage an accountant doing it on your own could be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
We can make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. While this is a long read, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar International
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all your sales channels to make sure you’re in compliance with your sales taxes. It simplifies the processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is 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 extensively used by owners of online businesses to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is your tax-reporting system seamlessly works well with your sales channel. If you’re using multiple sales channels, it is essential to maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. That way, there’s no need to collect data from different channels and organize it into one platform. All you have to do is connect TaxJar it will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns TaxJar will train you on managing the tax returns. However, it will be up to you and your staff to finish the tax returns on time. TaxJar is there to help you understand what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing it. There could be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, like the list of transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only can they help you keep track of how much you’ve earned however, they can also help you determine when your next payment is due.
The dashboard allows you to see the sales tax totals for your business. You can also export the data in a CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds better. You’ll know exactly how much budget you have for other operational costs.
The best part is that TaxJar offers training and tutorials, not just on their platform, but everything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more info. Additionally, their sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small company manager, the plan should be ideal for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for a bit more than just the standard features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to opt for premium plans instead. It comes with all the features you need to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users, and AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. TaxJar International
But they did state that this plan is customized for every user. The cost of the plan will be different depending on what you need for your company.
Free Trial
It’s a good thing that you don’t have to bet your life on it to find out if the platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to determine whether the service is the right choice for you.
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Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a breather. To sum it all up, here are the pros and cons of using TaxJar for your company.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
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’re doing, then you must try TaxJar.
Not only can it help you track your products and revenue, but it can also help you meet the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Using TaxJar can help you get more done while keeping the track of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax laws, this can definitely help you get your head around the subject. TaxJar International
However, if managing taxes is easy If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar International
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions are in US$. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar will calculate your tax.
