Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have a degree 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 budget to employ an accountant, doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
So , what can we do ?
We can make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can assist you. While this is an extensive read, you should be able to determine if TaxJar is the tool you require today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Knowledge Base
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by online business owners to make their business more neat and simple. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting system is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important data in one location. So, there’s no requirement to collect data from different channels and sort it into one platform. All you need to do is integrate TaxJar then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. For our review we’ll dig into both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up to you and your team members to finish the tax returns within the timeframe. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into one dashboard using this platform. From there you and your team will have access to everything you require, including a list of your transactions, reports, and data.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you track when your following payments are due.
The dashboard allows you to see the overall sales taxes in your business. You can also export the information in a CSV file in case you require it in 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. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even when you already have your accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform , but also everything that has to do with sales tax. You can look through their guides, webinars, and blog for more info. Additionally their sales tax calculator can 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 set your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The 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 sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a smaller company proprietor, then this program will be ideal for you. It may not offer all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something a bit more than just the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to opt for the Premium plan instead. It comes with all the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations, API integrations, team members, and AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Knowledge Base
But they did state that this plan is tailor-fit for each user. So the costs will vary in line with what you require for your business.
Luckily, you don’t have to risk your money to determine if this service is the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to gauge 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 relax. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
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 do, then you ought to try this.
Not only can it assist you in keeping track of your revenue and products It can assist you in meeting the deadlines you set. It is also a great option for accountants as they provide tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing 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 place with complicated tax regulations, this will surely help you wrap your mind around it. TaxJar Knowledge Base
However, if managing taxes is easy, then TaxJar may be an unnecessary investment. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire process easy to do then you’re better in doing it all on your own.
FAQ TaxJar Knowledge Base
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into US$ before TaxJar determines your tax.