Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the funds to hire an accountant, making it your own could be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Most people want to avoid this step. But since it’s required and mandatory, there’s no other choice.
So , what can we do ?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can help you. While this is a long read, you should be able to determine if TaxJar is what you need today.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar Not Adding Tax
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all the sales channels you use to ensure that you are in compliance with your sales taxes. It simplifies the processes that require days to complete and finish within minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything simple and organized. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax system seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one place. This means that there is no need to collect data in multiple channels and then organize it on one platform. All you need to do is to integrate TaxJar then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. In our review we’ll take a look 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 TaxJar will train you on managing these. However, it will be up to you and your staff to complete the process on time. TaxJar is there to provide guidance on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing them. There could be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team will have access to all the information you need, like the list of transactions, reports and information.
The greatest benefit of this feature is that it allows you to update your account automatically each day. They not only let to know the amount you’ve earned however, they can also help you keep track of when the next payment is due.
Their dashboard also allows you to see the overall sales taxes within your company. It is also possible to export the information in a CSV file if you need it to aid in financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to search for your documents whenever you’re in a pinch. Even when you already have your accounting firm, the feature can make them 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 expenses.
The best part is that TaxJar offers training and tutorials not only for their platform but for anything connected to sales tax. You can check out their webinars, guides or blog posts for additional details. In addition, their sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan for those who need assistance with filing requirements and reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale business proprietor, then this program could be ideal for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
You can also contact their customer support via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for that is more than the basic features 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?
Apart from having access to all of the Starter plan’s options, you also have access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to choose an upgrade instead. It includes all of the features you need to help with your taxes. Additionally, they permit unlimited data import integrations, API integrations, team members as well as AutoFiles.
They also have a staff who are devoted to managing your account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Not Adding Tax
But they did state that the plan is custom-made to each user. The cost of the plan will be different depending on what you need for your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to determine whether the software is an excellent fit for you.
Pros and Cons
We’ve covered everything you should be aware of TaxJar Let’s relax. In order to sum up the whole thing, here are the advantages and disadvantages of using TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- You can track several sales channels
- AutoFile limit is 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 check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that’s what you do, then you should try this.
Not only will it aid in tracking your products and revenue It can assist you in meeting 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 can help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this will certainly help you to get your mind around it. TaxJar Not Adding Tax
But if handling your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow, you might be better in doing it all by yourself.
FAQ TaxJar Not Adding Tax
What areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together 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 doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar can calculate the tax.