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 a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford the budget to engage an accountant making it yourself can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
We can always make life easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can assist you. While this is an extensive read, you should be able to determine if TaxJar is exactly what you need today.
Prefer video streaming instead? Check out 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, let’s dive right in.
What is TaxJar? TaxJar Nexus Checker
Founded in 2013, TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it in all of your sales channels to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s take a look at the features and services offered by 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 is compatible 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 get a penalty for missing a single minor point.
TaxJar lets you display your most important metrics in one spot. That way, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you have to do is connect TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms that they can connect with:
Filing
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. In this review, we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for the filing of income tax returns, the team will instruct you on managing the tax returns. It is up to you and your team members to complete everything in time. TaxJar will only guide you on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything will be automated from calculating taxes on sales in order to record and process it. However, there might be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to everything you require, including a list of your transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. Not only will they let to know the amount you’ve accumulated however, they can also help you keep track of when the next payments are due.
Their dashboard also allows you to see the total sales tax for your business. You can also export the 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.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. That means you won’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accountant, this feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your funds better. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just on their platform, but for anything connected to sales tax. You can check out their webinars, guides as well as their blog to find more information. Additionally the sales tax calculator is helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We are aware of how important it is to set your budget. Certain platforms have amazing features, but they can be too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the best plan if you need help in filing and reporting. It includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale company owner, this plan will be ideal for you. It may not offer all the features of TaxJar, but it has the basic features you require.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking to get that is more than the basics and options, then the Professional plan might be the right one for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support, API access, and sophisticated 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 the Premium plan instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports as well as API integrationsfor team members, and AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal the price of the Premium plan. will cost you. TaxJar Nexus Checker
However, they did mention that the plan is custom-made to each user. So the costs will vary depending on what you need for your business.
Free Trial
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine if the platform is the right choice for you.
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Pros and Cons
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To summarize we’ll go over the pros and cons of making use of TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- 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
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform companies with multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then you should try this.
Not only will it assist you in keeping track of your products and revenue however, it will assist you in meeting the deadlines you set. It is also a great option for accountants as they have a Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Nexus Checker
But if handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure easy to complete then you’re better off doing it on your own.
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FAQ TaxJar Nexus Checker
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar will calculate your tax.
