Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related tasks aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have enough money to hire an accountant, doing it on yourself can be risky. If you overlook one thing, you might have to redo things again!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can help you. Although this is quite an extensive read, you should be able to gauge whether TaxJar is what you need today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar Ios
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it in all of your sales channels to ensure compliance with your sales taxes. It makes the process simpler that could require days to complete and is completed in just a few just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to make their business more organized and straightforward. Let’s look into their features and services.
Features and services
One of the most important things you’ll want to check you have a tax accounting software perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your critical data in one location. This means that there is no need to collect data in multiple channels and sort it into a single platform. All you need to do is connect TaxJar then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they can integrate with:
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns TaxJar will train you on managing these. However, it will be up for you and your team to complete everything within the timeframe. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated from calculating sales taxes in order to record and process them. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team can access everything you require, including an inventory of your transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it allows you to update your account automatically each day. Not only will they let you know how much you’ve collected, but they also help you determine when your next payment is due.
The dashboard allows you to see the total sales tax for your business. Additionally, you can export the information as the form of a CSV file in case you require it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to scramble for your documents when you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll be aware of the budget you have available for other operational costs.
But what’s even better is that TaxJar provides training and tutorials, not just on their platform, but for anything connected to sales tax. You can check out their webinars, guides, or blog posts for additional information. Apart from that, their sales tax calculator can be helpful if you’re planning on do everything on your own.
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 costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these plans can offer. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims 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 free yearly AutoFiles, and a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small-scale company owner, this plan should be ideal for you. It may not have all of TaxJar’s features, but it has the essentials that you need.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get a bit more than just the standard features and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up by adding custom features.
How different is it from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It comes with all the features needed to help with your taxes. In addition, they offer unlimited integrations with data imports as well as Integrations with APIs, teams of users as well as AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. TaxJar Ios
However, they did say that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your company.
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you should know about TaxJar Let’s relax. To sum it all up, here are the advantages and disadvantages of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you must try TaxJar.
It’s not just a way to help you track your products and revenue It can assist you in meeting your deadlines. It is also a great option for accountants as they provide the Tax Advisor program. You can get tips and get knowledge from their seminars on taxes by using it.
Using TaxJar will help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Ios
But if handling taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Ios
What areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it to US$ prior to when TaxJar can calculate the tax.