Taxes have always been among the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues aren’t easy, particularly when you’re filled with tasks to complete. When you’re not able to afford the funds to employ an accountant, performing the task on your own could be dangerous. If you make a mistake, you might need to repeat the process!
Almost everyone wants to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So what can we do about it?
We can always simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving device and how it can benefit you. While this is lengthy, you should be able to determine if TaxJar is what you need right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Missing Month Data
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to the entire life cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to make their business more neat and simple. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to make sure is your tax-reporting system seamlessly works well with your sales channel. If you have multiple sales channels, it is essential to keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your most important data in one location. That way, there’s no requirement to collect information from multiple sources and then organize it on a single platform. All you have to do is to integrate TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using their AutoFile feature. In the purpose of this article, we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to handle the tax returns. However, it will be up to you and your staff to complete the process in time. TaxJar is only there to help you understand what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales in order to record and process them. But, it is possible to incur additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting problems. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. From there you and your staff will have access to all the information you need, such as an inventory of your transactions, reports and information.
The best part about the feature you’ve chosen is it allows you to update automatically every day. Not only will they let to know the amount you’ve accumulated, but they also help you determine when your next payments are due.
The dashboard allows you to fully view the total sales tax within your company. You can also export the data as the form of a CSV file if you need it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even when you already have your accountant, this function will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have to cover other operational expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also all things that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional details. Apart from that, their sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan if you need help in filing and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small company proprietor, then this program will be ideal for you. It may not offer all the features of TaxJar, but it has the basic features you require.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the basic features, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
So how different is it from the basic plan?
In addition to accessing every one 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. You can also have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to choose premium plans instead. It comes with all the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the amount that the Premium plan will cost you. TaxJar Missing Month Data
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to risk your money to determine if this service is right for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to gauge whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar let’s take a break. To sum it all up Here are the pros and cons of the use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online 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 on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it aid in tracking your products and revenue It can help you meet the deadlines you set. It is also a great platform for an accountant since they offer tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you save more time while keeping on top of each deadline and requirement you have to meet. If you’re living in a region with a lot of tax laws, this will surely help you wrap your head around it. TaxJar Missing Month Data
If handling your taxes is simple, then TaxJar might not be a good expense. 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 entire process easy to do then you’re better in doing it all by yourself.
FAQ TaxJar Missing Month Data
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar can calculate your tax.