Taxes have always been one of the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the budget to hire an accountant, performing the task on your own can be dangerous. If you overlook one thing, you might have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can help you. Although this is quite lengthy it is possible to assess whether TaxJar is the tool you require right now.
Prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Location
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to ensure that everything is organized and straightforward. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to make sure is your tax-reporting system seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display 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 integrate TaxJar, and the platform will handle all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For our review we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns, the team will instruct you on how to manage the tax returns. It is up for you and your team to finish the tax returns in time. TaxJar will only 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 submit all forms by hand. With this feature, everything is automated, from calculating sales taxes through recording, and then processing them. However, there might be 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 assist you with your accounting woes. 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 team can access everything you need, like an inventory of your transactions, reports and the data.
The most appealing aspect of this feature is that they allow you to automatically update every day. They not only let you know how much you’ve accumulated 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 see the overall sales taxes in your business. You can also export your data as the form of a CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. That means you won’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates 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 to cover other operational costs.
The best part is that TaxJar offers tutorials and training not only for their platform , but also for anything related to sales tax. You can look through their webinars, guides as well as their blog to find more info. Additionally their sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you to help you with filing requirements or reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale business owner, this plan will be perfect for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking to get that is more than the basic features, then the Professional plan may be the best option for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the original plan?
In addition to having access to all of the Starter plan’s features, you also have their support via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to choose premium plans instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrationsfor team members, and AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Location
However, they did say that this plan is tailor-fit for each user. So the costs will vary according to what you require for your business.
Luckily, you don’t have to bet your life on it 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 see whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of making use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online 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 review local laws
The Final Verdict
With everything laid down, 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 can it aid in tracking your revenue and products, but it can also help you meet the deadlines you set. It’s also an excellent option for accountants as they have tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you get more done while keeping track of every deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this will definitely help you get your mind around it. TaxJar Location
But if handling your taxes is simple, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. 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 Location
What are the areas in which TaxJar provide API support?
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 connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar will calculate your tax.