Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. If you don’t have the funds to engage an accountant performing the task on yourself can be risky. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can benefit you. Even though this is an extensive read, you should be able to gauge whether TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Mobile App
In 2013, TaxJar was established. 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 in all of your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by online business owners to ensure that everything is organized and straightforward. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the first things you’ll need to make sure is that your accounting tax platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you must ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one place. So, there’s no requirement to collect information from multiple sources and organize it into one platform. All you have to do is connect TaxJar, then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows customers to make sales tax filings by hand or using the AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on how to manage them. However, it will be up to you and your team members to finish the tax returns on time. TaxJar will only guide you on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing them. But, it is possible to incur extra fees if not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team will have access to everything you require, including a list of your transactions, reports and the data.
The best part about this option is the fact that they allow you to update automatically every day. Not only will they let you keep track of how much you’ve earned, but they also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes for your business. It is also possible to export your data in a CSV file if you need it to aid in accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. This means that you don’t have to hunt for your paperwork when you’re in the event of a need. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operating expenses.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also everything connected to sales tax. Check out their webinars, guides and blog for more info. Additionally the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most effective plan to help you with filing requirements and reporting. It includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company manager, the plan could be ideal for you. It might not include all the features offered by TaxJar, but it has all the basics you require.
Additionally, you can 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 for something different from the basic features Professional may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
How different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to go for premium plans instead. It comes with all the features that you require to help with your taxes. Moreover, they allow unlimited import integrations of data as well as API integrations, team users and AutoFiles.
They also have a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. TaxJar Mobile App
However, they did say that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require for your company.
Free Trial
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still looking into various options, they provide 30 days of free trial. It should give you enough time to determine whether the service is the right choice for you.
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Pros and Cons
We’ve covered everything you need to know about TaxJar Let’s relax. To sum it all up Here are the pros and cons of the use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Has 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
- It allows you to monitor multiple sales channels
Cons
- 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
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to help you track the sales and profits of your business however, it will also help you meet your deadlines. This is also an excellent option for accountants as they offer the Tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Using TaxJar will help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax regulations, this will certainly help you to get your head around the subject. TaxJar Mobile App
If handling your taxes is straightforward, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better in doing it all on your own.
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FAQ TaxJar Mobile App
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar determines the tax.
