Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when you’re packed with things to do. If you don’t have enough money to hire an accountant, doing it on your own can be dangerous. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can simplify our lives with tools such as TaxJar.
We’ll look at this life-saving tool and how it can help you. Even though this is a long read but you’ll be able to assess whether TaxJar is the tool you require today.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Login
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could require days to complete and finish within minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure is your tax-reporting system is compatible with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar lets you display your critical data in one location. This means that there is no need to gather data from different channels and organize it into one platform. All you have to do is connect TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. For this review, we’ll dig into both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing income tax returns The team will guide you on managing the tax returns. But, it is up to you and your team to finish the tax returns within the timeframe. TaxJar is only there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you require, including a list of your transactions, reports and data.
The most appealing aspect of this option is the fact that it allows you to automatically update every day. Not only can they help you keep track of how much you’ve earned, but they also help you determine when your next payments are due.
The dashboard allows you to fully view the overall sales taxes within your company. It is also possible to export the data in CSV format. CSV file if you need it in your financial planning and accounting processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even when you already have your accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything related to sales tax. Check out their webinars, guides, or blog posts for additional info. Additionally their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing structures and what each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. With the starter plan, you can 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 of TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking for different from the standard features and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to choose the Premium plan instead. It includes all of the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations, API integrationsfor team members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Login
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require for your business.
It’s a good thing that you don’t have to bet your life on it to see if this platform is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of the use of 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 easy 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 have access to the API feature
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes many platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can help you meet the deadlines you set. This is also an excellent option for accountants as they have a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of 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 regulations, this will definitely help you get your head around it. TaxJar Login
If handling your taxes is simple, 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. In addition, if you find the whole procedure easy to complete, you might be better off doing it by yourself.
FAQ TaxJar Login
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like 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 with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to USdollars before TaxJar can calculate the tax.