Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the funds to employ an accountant, performing the task on yourself can be dangerous. If you miss one detail, you might have to redo things again!
Almost everyone wants to skip this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. While this is lengthy but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Jarfest
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure that you are in compliance with sales taxes. It simplifies the processes that 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 companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting platform seamlessly works well along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to display your key metrics in one place. That way, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is integrate TaxJar then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax either manually or via the AutoFile feature. For this review, we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income The team will guide you on managing them. It is up to you and your staff to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating sales tax to recording and processing them. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, like the list of transactions, reports and information.
The best part about the feature you’ve chosen is it allows you to automatically update every day. Not only can they help to know the amount you’ve collected, but they also help you determine when your next payment is due.
Their dashboard also allows you to see the overall sales taxes for your business. You can also export the data to the form of a CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to scramble for your documents when you’re in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have available for other operating expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also everything that has to do with sales tax. Check out their guides, webinars, and blog for more details. Additionally the sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those plans can offer. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small business manager, the plan should be perfect for you. It might not include all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration tools.
If you’re looking for a bit more than just the basic features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the basic plan?
Apart from having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to choose premium plans instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data API integrations, team users and AutoFiles.
They also have a staff that is devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar Jarfest
But they did state that this plan is tailor-fit for every user. So the costs will vary according to what you require for your business.
Fortunately, you don’t need to gamble your money just to determine if this service is right for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to determine if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If that’s what you do, then you must try TaxJar.
Not only will it help you track your products and revenue, but it can also help you meet the deadlines you set. It’s also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Utilizing TaxJar can help you reduce time and keep 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 surely help you wrap your mind around it. TaxJar Jarfest
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Jarfest
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to USdollars before TaxJar will calculate your tax.