Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. If you don’t have the funds to employ an accountant, performing the task on your own could be risky. If you make a mistake, you might have to redo things again!
Almost everyone wants to skip this step. However, since it’s mandatory 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.
Here we’ll take a look at this life-saving tool and explain how it can help you. While this is an extensive read, you should be able to assess whether TaxJar is what you need right now.
Do you prefer video streaming instead? Check out 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 is TaxJar TaxJar Logo
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll want to check you have a tax accounting system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you must maintain everything in line. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. This means that there is no need to gather information from multiple sources and organize it into a single platform. All you need to do is connect TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to submit their sales tax manually or through the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to filing income tax returns The team will guide you on how to handle these. But, it is up to you and your team to complete the process on time. TaxJar is there to 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 won’t need to fill out all forms by hand. With this feature, everything will be automated, from calculating taxes on sales through recording, and then processing them. There could be extra fees if not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team can access everything you require, including a list of your transactions, reports and the data.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned however, they can also help you track when your following payments are due.
Their dashboard also allows you to fully view the total sales tax in your business. It is also possible to export your data as the form of a CSV file if you need it in your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. It means you don’t need to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operating expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform but everything connected to sales tax. Check out their webinars, guides, and blog for more details. Additionally, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing tiers and the features that each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale company owner, this plan will be ideal for you. It may not have all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact the support team via their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for that is more than the standard features, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to go for the Premium plan instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data, API integrations, team members and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. TaxJar Logo
However, they did mention that this plan is customized to each user. So the costs will vary according to what you require to run your business.
Free Trial
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see whether the software is an excellent fit for you.
> > Click Here to Start TaxJar for Free < <
Pros and Cons
Now that we’ve covered all you should be aware of 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 to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then should try this.
Not only will it aid in tracking the sales and profits of your business, but it can also help you meet your deadlines. It’s also an excellent option for accountants as they offer the Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
The use of TaxJar will help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax regulations, this will definitely help you get your head around it. TaxJar Logo
If handling taxes is easy If it isn’t, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
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FAQ TaxJar Logo
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type 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 to USdollars prior to when TaxJar determines your tax.
