Taxes have always been among the most difficult things to handle, whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks aren’t easy, 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 performing the task on your own can be risky. If you make a mistake, you might have to do it all over again!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can assist you. Even though this is lengthy, you should be able to assess whether TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Obsolete New Laws
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with sales taxes. It makes the process simpler that could require days to complete and finish within only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is simple and organized. Let’s look into their features and services.
Services and features
One of the first things you’ll need to ensure is your tax-reporting software perfectly integrates along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar lets you display your most important metrics in one spot. This means that there is no requirement to collect information from multiple sources and sort it into one platform. All you have to do is to integrate TaxJar, and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. For our review we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing income tax returns TaxJar will train you on how to handle them. But, it is up for you and your team to complete the process on time. TaxJar is only there to help you understand what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated, from calculating sales taxes through recording, and then processing it. However, there might be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you need, like a list of your transactions, reports, and information.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only can they help you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to see the overall sales taxes in your business. It is also possible to export the data as the form of a CSV file in case you require it for your process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have available for other operating costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also 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 beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the best plan if you need help with filing requirements or reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small company owner, this plan will be perfect for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking for a bit more than just the standard features, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference from the starter plan?
In addition to having access to all of the Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to choose premium plans instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of users as well as AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Obsolete New Laws
But they did state that this plan is customized for every 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 the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Pros and
We’ve covered everything you need to be aware of TaxJar let’s take a break. To sum it all up, here are the advantages and disadvantages of using TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to 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 have access to the API feature.
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to help you track the sales and profits of your business however, it will also help you meet the deadlines you set. It’s also an excellent option for accountants as they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline and obligation you have to meet. If you’re living in a region with a lot of tax laws, this will definitely help you get your mind around it. TaxJar Obsolete New Laws
But if handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Obsolete New Laws
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to US$ prior to when TaxJar will calculate the tax.