Taxes are always one of the most difficult things to handle regardless of whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford enough money to engage an accountant making it your own can be dangerous. If you make a mistake it could mean you have to redo things again!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
What can we do about it?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can benefit you. While this is lengthy but you’ll be able to gauge whether TaxJar is the tool you require right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Null Result Without Error
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. In addition, you can apply it in all of your sales channels to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one place. So, there’s no need to gather information from multiple sources and sort it into one platform. All you have to do is connect TaxJar and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax either manually or via their AutoFile feature. For our review we’ll dig into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing income tax returns, the team will instruct you on how to handle these. However, it will be up to you and your team to complete everything on time. TaxJar is there to help you understand what you have to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales tax to recording and processing it. There could be additional charges if they are not part of the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you require, including the list of transactions, reports and the data.
The best part about this feature is that it allows you to automatically update every day. Not only will they let you know how much you’ve collected, but they also help you track when your following payment is due.
Their dashboard can also allow users to view in detail the total sales tax in your business. You can also export the data as CSV format. CSV file if you need it in your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your money more efficiently. You’ll know better how much budget you have for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training, not just on their platform, but for anything that has to do with sales tax. Check out their webinars, guides, and blog for more information. Additionally, their sales tax calculator should 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. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale business owner, this plan will be perfect for you. It may not offer all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for something that is more than the basics and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher if you add custom features.
What is the difference from the basic plan?
In addition to having access to each of Starter plan’s features, you also have their support via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to go for premium plans instead. It has all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited import integrations of data as well as API integrationsfor team members and AutoFiles.
There is also a team who are devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Null Result Without Error
However, they did mention that this plan is tailor-fit for every user. Therefore, the cost will differ in line with what you require for your business.
Luckily, you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering other options, they have a 30-day free trial. This should be enough time to see if the platform is an excellent fit for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you should try this.
It’s not just a way to aid in tracking your products and revenue, but it can help you meet your deadlines. This is also an excellent platform for an accountant since they offer the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to save more time while keeping track of every deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will certainly help you to get your head around the subject. TaxJar Null Result Without Error
However, if managing your taxes is straightforward, then TaxJar might not be a good expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole process easy to do, you might be better off doing it by yourself.
FAQ TaxJar Null Result Without Error
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar will calculate the tax.