Taxes have always been among the most difficult things to handle, whether you’re running your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. When you’re not able to afford the budget to hire an accountant, doing it on your own can be dangerous. If you miss one detail, you might have to redo things again!
Nearly everyone would prefer to skip this step. But since it’s required, we have no choice.
So , what can we do about it?
We can make life easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. Even though this is a long read, you should be able to assess whether TaxJar is exactly what you need today.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What is TaxJar? TaxJar Orders Wholesale Autofile
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to make sure you’re in compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is your tax-reporting software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to maintain everything in line. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to show your critical data in one location. So, there’s no need to gather information from multiple sources and then organize it on one platform. All you have to do is connect TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to handle the tax returns. But, it is up to you and your team members to complete the process on time. TaxJar is there to guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes through recording, and then processing it. There could be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there, you and your team will have access to all the information you need, like the list of transactions, reports and information.
The most appealing aspect of this feature is that it lets you to update automatically every day. They not only let to know the amount you’ve accumulated however, they can also help you track when your following payments are due.
Their dashboard also allows you to fully view the overall sales taxes for your business. You can also export the data in CSV format. CSV file, if you want to use it for your financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep on top of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re in the event of a need. Even when you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform but all things that has to do with sales tax. Check out their webinars, guides as well as their blog to find more information. Apart from that the sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. For this reason we’ll examine TaxJar’s pricing structures and the features that each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. The company claims that it’s the most effective plan if you need help in filing and reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you have access to their AI tax recommendations.
If you’re a smaller company manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basic features, then the Professional plan might be the right one for you. The price starts at $99 but you can increase it by adding custom features.
So how different is it from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to opt for the Premium plan instead. It comes with all the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrationsfor team users as well as AutoFiles.
They also have a team who are devoted for managing the account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Orders Wholesale Autofile
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to see whether the service is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should know about TaxJar let’s take a break. To summarize, here are the pros and cons of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only will it aid in tracking your products and revenue however, it will assist you in meeting your deadlines. It’s also an excellent option for accountants as they provide a Tax Advisor program. You can get tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to get more done while keeping on top of each deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this will definitely help you get your head around it. TaxJar Orders Wholesale Autofile
But if handling taxes is easy and straightforward, 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 all of it. If you’re finding the entire process easy to do, you might be better in doing it all on your own.
FAQ TaxJar Orders Wholesale Autofile
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars prior to when TaxJar will calculate your tax.