Taxes are always one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have any experience 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 the budget to engage an accountant doing it on your own can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to avoid this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
We can make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can help you. Although this is quite an extensive read, you should be able to assess whether TaxJar is what you need today.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar TaxJar Ip Address
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it in all of the sales channels you use to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure you have a tax accounting system is compatible along with sales funnels. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your key data in one location. That way, there’s no need to gather data from different channels and organize it into one platform. All you need to do is to integrate TaxJar it will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes by hand or using the AutoFile feature. For our review we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for filing income tax returns The team will guide you on how to manage the tax returns. It is up to you and your staff to complete the process within the timeframe. TaxJar is there to guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. Through this feature, everything will be automated from calculating sales tax through recording, and then processing it. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there, you and your team will have access to all the information you need, like a list of your transactions, reports, and data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax for your business. You can also export the information in a CSV file, if you want to use it for your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you need them in the event of a need. Even even if you already have an accountant, this feature will make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have available for other operational costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything related to sales tax. You can check out their guides, webinars, and blog for more info. Additionally the sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan if you need help with filing requirements and reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale company proprietor, then this program will be perfect for you. It might not include all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking for a bit more than just the basics, then the Professional plan may be the best option for you. It starts at $99, but it can go higher if you add custom features.
So how different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to choose an upgrade instead. It includes all of the features that you require to help with your taxes. Additionally, they permit unlimited import integrations of data API integrationsfor team users, and AutoFiles.
They also have a team dedicated to managing your account. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Ip Address
But they did state that this plan is customized for each user. Therefore, the cost will differ in line with what you require for your company.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a break. To summarize Here are the pros and cons of the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple 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
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer a Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar can help you save more time while keeping the track of each deadline or requirement you need to meet. If you’re in a region with a lot of tax laws, this will definitely help you get your head around the subject. TaxJar Ip Address
However, if managing taxes is easy If it isn’t, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure easy to complete then you’re better off doing it by yourself.
FAQ TaxJar Ip Address
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar will calculate the tax.