Taxes have always been one of the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues aren’t easy, particularly when you’re packed with things to do. If you don’t have the funds to engage an accountant performing the task on your own could be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
What is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and explain how it can help you. Although this is quite lengthy, you should be able to gauge whether TaxJar is the tool you require in the present.
Are you looking watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Orders Wholesale Autofile Tax Exempt
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to ensure compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is neat and simple. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check is your tax-reporting system is compatible with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical data in one location. So, there’s no need to collect data from different channels and sort it into one platform. All you need to do is connect TaxJar and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect those sales tools. Once the time comes for filing income tax returns, the team will instruct you on how to handle these. However, it will be up to you and your team members to finish the tax returns in time. TaxJar is only there to help you understand what you need to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you require, including the list of transactions, reports, and data.
The best part about this feature is that they allow you to automatically update every day. They not only let you keep track of how much you’ve earned, but they also help you determine when your next payment is due.
The dashboard allows you to fully view the sales tax totals within your company. Additionally, you can export your data as the form of a CSV file if you need it for your accounting and financial planning processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. It means you don’t need to search for your documents when you need them in the event of a need. Even when you already have your accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your money more efficiently. You’ll know better how much budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training not only for their platform but for anything that has to do with sales tax. You can look through their guides, webinars, or blog posts for additional information. In addition, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing structures and what each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help in filing and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small business manager, the plan will be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
In addition, you can reach their support team with their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something that is more than the basic features and options, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up if you add custom features.
So how different is it 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 advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive company, you may need to opt for an upgrade instead. It comes with all the features you need to make your tax filing easier. Additionally, they permit unlimited integrations with data imports Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Orders Wholesale Autofile Tax Exempt
But they did state that the plan is custom-made to each user. So the costs will vary in line with what you require to run 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 considering other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine whether the software is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of making use of TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform companies with multiple sales channels and uses plenty of platforms. If this sounds like the way you do, then you ought to try this.
Not only can it help you track the sales and profits of your business, but it can help you meet your deadlines. This is also an excellent opportunity for accountants since they offer the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline and requirement you have to meet. If you live in an area with complex tax laws, this will certainly help you to get your head around it. TaxJar Orders Wholesale Autofile Tax Exempt
However, if managing taxes is easy and straightforward, 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. Moreover, if you’re finding the entire process easy to do, you might be better to do it by yourself.
FAQ TaxJar Orders Wholesale Autofile Tax Exempt
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar determines the tax.