Taxes are always one of the most difficult things to handle regardless of whether you’re running a business or not. Even more so if you do not have a degree in finance or accounting. Tax-related work aren’t easy, particularly when you’re packed with things to do. If you don’t have the funds to hire an accountant, doing it on yourself can be risky. If you make a mistake, you might need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and explain how it can help you. Although this is quite an extensive read, you should be able to gauge whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar Orders Wholesale Auto File Tax Exempt
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it in all of your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to keep everything in place. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. So, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you have to do is connect TaxJar it will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers submit their sales tax manually or through the AutoFile feature. For the purpose of this article, we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When it comes time to filing tax returns for income TaxJar will train you on how to manage the tax returns. However, it will be up for you and your team to complete everything in time. TaxJar will only provide guidance on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated from calculating taxes on sales in order to record and process it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you need, such as the list of transactions, reports and information.
The greatest benefit of the feature you’ve chosen is they allow you to automatically update every day. Not only can they help you know how much you’ve collected however, they can also help you track when your following payments are due.
Their dashboard can also allow you to see the sales tax totals in your business. You can also export the information as CSV format. CSV file in case you require it for your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. This means that you don’t have to search for your documents whenever you’re in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have to cover other operating expenses.
But what’s even better is that TaxJar offers training and tutorials, not just for their platform but all things connected to sales tax. You can look through their webinars, guides as well as their blog to find more info. Apart from that the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts 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, four free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small business proprietor, then this program could be ideal for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something different from the standard features Professional may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also have their phone customer support access to APIs, as well as sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to choose an upgrade instead. It comes with all the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports API integrationsfor team users, and AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Orders Wholesale Auto File Tax Exempt
However, they did say that the plan is custom-made to each user. Therefore, the cost will differ according to what you require for your business.
It’s a good thing that you don’t have to risk your money to see if this platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to gauge whether the service is the right choice for you.
Pros and Cons
After we’ve gone over everything you need to be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- 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
- Limits for AutoFile are based on 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 check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then you should try this.
Not only can it help you track your products and revenue It can also help you meet the deadlines you set. It is also a great option for accountants as they provide tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can help you get more done while keeping on top of each deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar Orders Wholesale Auto File Tax Exempt
But if handling your taxes is simple and straightforward, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure simple to follow then you’re better in doing it all on your own.
FAQ TaxJar Orders Wholesale Auto File Tax Exempt
Which areas does TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar determines the tax.