Taxes have always been one of the most difficult tasks to complete, 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 your whole day is packed with things to do. If you don’t have enough money to employ an accountant, performing the task on your own could be risky. If you miss one detail, you might have to redo things again!
Most people want to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can assist you. While this is lengthy, you should be able to determine if TaxJar is what you need today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Logo Png
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it across all of the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll want to check is your tax-reporting platform is compatible with your sales channel. If you have multiple sales channels, you need to keep everything in place. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. That way, there’s no need to gather data from different channels and sort it into a single platform. All you have to do is connect TaxJar and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers submit their sales tax manually or through their AutoFile feature. In our review we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on managing these. It is up to you and your team members to finish the tax returns on time. TaxJar is only there to help you understand what you need to 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 any forms manually. This feature will ensure that everything will be automated, from calculating taxes on sales through recording, and then processing them. There could be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your team can access everything you require, including the list of transactions, reports, and the data.
The best part about this feature is that they allow you to update automatically every day. Not only can they help you keep track of how much you’ve accumulated, but they also help you track when your following payment is due.
Their dashboard can also allow you to see the sales tax totals for your business. You can also export the data to a CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the sales avenues you use. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds more effectively. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also all things connected to sales tax. Check out their webinars, guides, or blog posts for additional info. Additionally, their sales tax calculator is beneficial when you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. They say it’s the best plan to help you in filing and reporting. It comes with the tax on sales, four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small company manager, the plan will be perfect for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact their customer support via their support chart for email. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get different from the standard features Professional could be the one for you. It’s priced at $99 but it can go higher if you add custom 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 the support of their customer service via phone access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to go for an upgrade instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrations, team users and AutoFiles.
They also have a team that is devoted for managing the account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Logo Png
However, they did say that the plan is custom-made for each user. So the costs will vary according to what you require for your business.
Free Trial
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 a 30-day free trial. This should be enough time to see whether the software is a good fit for you.
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Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a break. To summarize Here are the advantages and disadvantages of making use of TaxJar for your business.
Pros
- 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
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- You can track several sales channels
Cons
- 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 recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only will it help you track your products and revenue however, it will help you meet the deadlines you set. It’s also an excellent platform for an accountant since they provide a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will certainly help you to get your head around it. TaxJar Logo Png
However, if managing your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure easy to complete then you’re better in doing it all on your own.
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FAQ TaxJar Logo Png
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions are in US$. If you’re using a different currency, you will need to convert it into USUSD before TaxJar will calculate your tax.
