Taxes have always been one of the hardest things to do, whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have enough money to engage an accountant doing it on yourself can be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Almost everyone wants to avoid this step. But since it’s required to be done, we can’t choose not to.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. While this is an extensive read, you should be able to gauge whether TaxJar is the tool you require in the present.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Not Finding Address
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of your sales channels to ensure compliance with sales tax requirements. It streamlines processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is that your accounting tax system seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your key metrics in one place. That way, there’s no requirement to collect data from different channels and sort it into one platform. All you need to do is integrate TaxJar then the system will do all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. In our review we’ll dig into both.
If you opt to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing income tax returns, the team will instruct you on how to handle these. However, it will be up for you and your team to complete everything on time. TaxJar is there to provide guidance on what you should 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 submit any forms manually. Through this feature, everything will be automated from calculating sales tax through recording, and then processing them. However, there might be extra fees if not included in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into a single dashboard via this platform. From there, you and your team can access everything you require, including a list of your transactions, reports and the data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. They not only let you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard also allows you to fully view the sales tax totals for your business. It is also possible to export the data to CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. That means you won’t have to search for your documents when you’re in a pinch. Even when you already have your accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll know better how much budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but for anything related to sales tax. Check out their webinars, guides, and blog for more info. Apart from that their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and the features that each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help in filing and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a small business manager, the plan will be perfect for you. It may not offer all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for a bit more than just the standard features, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
So how different is it from the basic plan?
In addition to having access to every one of Starter plan’s features, you also have their support via phone, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to go for the Premium plan instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited import integrations of data, Integrations with APIs, teams of users, and AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan costs you. TaxJar Not Finding Address
But they did state that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require for your company.
Luckily, you don’t have to bet your life on it to find out if the platform is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. To sum it all up Here are the pros and cons of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated 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 have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
Not only can it aid in tracking the sales and profits of your business It can help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
Using TaxJar can help you reduce time and keep track of every deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this can definitely help you get your mind around it. TaxJar Not Finding Address
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Not Finding Address
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar will calculate the tax.