Taxes have always been one of the hardest things to do regardless of whether you run a business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford enough money to employ an accountant, making it yourself can be risky. If you make a mistake, you might need to repeat the process!
Almost everyone wants to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So , what can we do about it?
We can make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving device and how it can assist you. While this is a long read but you’ll be able to determine if TaxJar is the tool you require right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Npm
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 all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check you have a tax accounting system seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your critical metrics in one place. That way, there’s no need 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 do all the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. In our review we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect all your sales platforms. When the time is right for filing income tax returns The team will guide you on how to manage these. It is up for you and your team to complete the process within the timeframe. TaxJar will only provide guidance on what you have 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 any forms manually. Through this feature, everything will be automated, from calculating sales tax through recording, and then processing them. However, there might be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform you and your staff can access everything you require, including the list of transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to fully view the sales tax totals in your business. It is also possible to export the data as a CSV file if you need it in your financial planning and accounting processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this feature will make them more efficient.
Additionally, knowing the figures for your sales tax in advance will help you plan your money more efficiently. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just on their platform, but all things connected to sales tax. You can check out their guides, webinars, as well as their blog to find more information. Additionally the sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It also includes sales tax reporting, four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small company owner, this plan will be ideal for you. It may not offer all of TaxJar’s features, but it has the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get a bit more than just the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large company, you may need to go for an upgrade instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited import integrations of data API integrations, team members and AutoFiles.
There is also a team dedicated for managing the account. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Npm
However, they did mention that the plan is custom-made for each user. So the costs will vary according to what you require for your company.
It’s a good thing that you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to determine whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Has 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it help you track your revenue and products however, it will help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will certainly help you to get your mind around it. TaxJar Npm
But 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 keep track of all of it. In addition, if you find the whole process easy to do then you’re better in doing it all by yourself.
FAQ TaxJar Npm
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar can calculate your tax.