Taxes have always been one of the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. If you don’t have the budget to employ an accountant, making it your own could be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving device and how it can benefit you. Even though this is a long read, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar Laravel
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been used in various industries like food and beverage businesses, 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 ensure that everything is organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the first things you’ll need to make sure is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, you must keep everything in place. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your critical data in one location. So, there’s no need to gather data from different channels and organize it into a single platform. All you need to do is to integrate TaxJar it will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to submit their sales tax manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing tax returns for income, the team will instruct you on managing these. However, it will be up to you and your team to complete the process on time. TaxJar is there to provide guidance on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating sales tax in order to record and process it. However, there might be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting woes. All orders made through 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 all the information you need, like the list of transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it allows you to update your account automatically each day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard also allows you to see the total sales tax for your business. You can also export your data to the form of a CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to scramble for your documents when you need them in a pinch. Even even if you already have an accountant, this function can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll know exactly how much budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials not only for their platform but for anything connected to sales tax. Check out their guides, webinars, and blog for more info. Additionally the sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they can be too costly for your business. That’s why for this section, we’ll look into TaxJar’s pricing structures and what each of those options can offer you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They say it’s the most effective plan if you need help in filing and reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a smaller company proprietor, then this program could be ideal for you. It may not have all the features of TaxJar however, it does include the essentials that you need.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking for a bit more than just the basics and options, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it if you add custom features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to choose an upgrade instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports, API integrationsfor team members as well as AutoFiles.
There is also a team who are devoted in managing your accounts. They don’t reveal the amount that the Premium plan costs you. TaxJar Laravel
However, they did say that the plan is custom-made for each user. Therefore, the cost will differ depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To summarize, here are the pros and cons of the use of TaxJar for your business.
- There is the 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 easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by 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 review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only will it help you track your revenue and products however, it will also help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar Laravel
If handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you have only one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Laravel
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor 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 USdollars. If you’re using a different currency, you’ll have to convert it into USdollars prior to when TaxJar determines the tax.