Taxes have always been one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the budget to hire an accountant, performing the task on yourself can be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
What can we do about it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can help you. Although this is quite a long read it is possible to assess whether TaxJar is the tool you require today.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar Online Business Code
Founded in 2013, 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 across all of your channels of sales to make sure you’re in compliance with sales taxes. It simplifies the 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 and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check you have a tax accounting platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to keep everything in place. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your most important metrics in one place. That way, there’s no need to collect data from different channels and then organize it on one platform. All you need to do is integrate TaxJar and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
Filing
TaxJar allows customers to submit their sales tax by hand or using TaxJar’s AutoFile feature. For our review we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing income tax returns TaxJar will train you on how to handle them. But, it is up to you and your team members to complete the process in time. TaxJar will only guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales taxes to recording and processing them. However, there might be additional charges if they are not included in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you need, like an inventory of your transactions, reports and the data.
The most appealing aspect of this feature is that it lets you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated, but they also help you keep track of when the next payments are due.
Their dashboard also allows you to see the sales tax totals in your business. It is also possible to export the information as the form of a CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. It means you don’t need to scramble for your documents whenever you’re in a pinch. Even if you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have to cover other operational costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more details. Additionally their sales tax calculator should be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the most effective plan to help you in filing and reporting. It also includes sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you have access to their AI tax tips.
If you’re a small-scale company owner, this plan could be ideal for you. It may not have all the features offered by TaxJar but it comes with all the basics you require.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for something 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.
So how different is it from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you run a large business, you might need to opt for an upgrade instead. It has all of the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team users, and AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Online Business Code
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require to run your business.
Free Trial
It’s a good thing that you don’t have to risk your money to see if this platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to gauge whether the software is a good fit for you.
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Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar Let’s relax. To sum it all up, here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only can it aid in tracking your revenue and products however, it will assist you in meeting your deadlines. It is also a great option for accountants as they have a Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this will certainly help you to get your head around the subject. TaxJar Online Business Code
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to track everything. In addition, if you find the whole procedure simple to follow then you’re better to do it by yourself.
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FAQ TaxJar Online Business Code
What areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions are in US$. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar will calculate the tax.
