Taxes have always been one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the budget to employ an accountant, making it your own could be dangerous. If you miss one detail it could mean you have to do it all over again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. Although this is quite a long read, you should be able to determine if TaxJar is the tool you require right now.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar TaxJar Mailing Address
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales taxes. It streamlines processes that require days to complete and finish within just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to ensure 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 need to maintain everything in line. The final thing you would like is to be penalized for missing a single minor point.
TaxJar lets you display your key metrics in one place. This means that there is no need to collect information from multiple sources and then organize it on one platform. All you have to do is integrate TaxJar, and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. In the purpose of this article, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to handle the tax returns. However, it will be up to you and your team to finish the tax returns on time. TaxJar is only there to provide guidance on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. Through this feature, everything will be automated from calculating sales tax in order to record and process them. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you need, such as a list of your transactions, reports and data.
The greatest benefit of the feature you’ve chosen is it allows you to update your account automatically each day. They not only let to know the amount you’ve accumulated, but they also help you keep track of when the next payment is due.
The dashboard allows you to fully view the total sales tax within your company. It is also possible to export your data as the form of a CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. This means that you don’t have to hunt for your paperwork when you’re when you’re in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also everything connected to sales tax. You can check out their webinars, guides, or blog posts for additional info. Additionally, their sales tax calculator should be helpful if you’re planning on complete everything yourself.
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 costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the most effective plan for those who need assistance with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small business owner, this plan could be ideal for you. It may not have all the features of TaxJar but it comes with all the basics you require.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something that is more than the standard features Professional could be the one for you. The price starts at $99 but you can increase it when you add additional features.
What is the difference from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to choose the Premium plan instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrations, team members and AutoFiles.
There is also a team dedicated to managing your account. They don’t reveal how much the Premium plan will cost you. TaxJar Mailing Address
But they did state that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require to run your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to see if the platform is an excellent fit for you.
Pros and Cons
We’ve covered everything you should know about TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of using TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features 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 applicable for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to help you track your revenue and products, but it can assist you in meeting your deadlines. It is also a great opportunity for accountants since they have a Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep on top of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this will certainly help you to get your mind around it. TaxJar Mailing Address
But if handling taxes is easy, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Mailing Address
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions are in USdollars. If you’re using a different currency, you’ll need to convert it into USdollars prior to when TaxJar can calculate your tax.