Taxes are always one of the most difficult things to handle, whether you’re running a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. In the event that you do not have the funds to engage an accountant making it your own could be risky. If you overlook one thing it could mean you have to redo things again!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can help you. While this is a long read but you’ll be able to gauge whether TaxJar is what you need right now.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? TaxJar License
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure compliance with sales taxes. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to keep everything neat and simple. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting software perfectly integrates along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to face a penalty due to missing a single minor point.
TaxJar allows you to show your critical data in one location. This means that there is no need to collect data in multiple channels and then organize it on one platform. All you need to do is connect TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms that they can connect with:
TaxJar allows customers to make sales tax filings manually or through TaxJar’s AutoFile feature. In the purpose of this article, we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When it comes time to filing tax returns for income The team will guide you on how to manage these. However, it will be up for you and your team to complete the process in time. TaxJar is there to guide you on what you have 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 fill out any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales to recording and processing them. But, it is possible to incur additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you require, including the list of transactions, reports, as well as data.
The best part about this feature is that it lets you to update automatically every day. Not only can they help you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payments are due.
The dashboard allows you to see the overall sales taxes in your business. It is also possible to export the data in the form of a CSV file, if you want to use it for your process of financial planning and accounting or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. It means you don’t need to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures 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 for other operating costs.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but for anything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more details. Apart from that the sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance in filing and reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax recommendations.
If you’re a small-scale business manager, the plan could be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking for a bit more than just the basic features, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to opt for the Premium plan instead. It includes all of the features needed to aid in your tax preparation. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of members, and AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar License
But they did state that this plan is customized for every user. Therefore, the cost will differ depending on what you need for your company.
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to gauge whether the service is a good fit for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a break. To summarize Here are the pros and cons of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it 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 valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then you should try this.
Not only can it assist you in keeping track of your products and revenue It can also help you meet the deadlines you set. It’s also an excellent option for accountants as they have a Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your head around it. TaxJar License
If handling taxes is easy, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole process easy to do and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar License
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar can calculate the tax.