Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Even more so if you do not have a background in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the funds to hire an accountant, making it your own can be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do about it?
We can make life easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can benefit you. While this is lengthy but you’ll be able to determine if TaxJar is what you need today.
Are you looking 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.
If you prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Origan V Destination
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more neat and simple. 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 is that your accounting tax system seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to ensure that everything is in order. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. That way, there’s no need to gather information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar, it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes manually or through their AutoFile feature. For our review we’ll take a look into both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to manage them. However, it will be up to you and your staff to complete the process in time. TaxJar will only provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales in order to record and process them. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize 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 everything you need, like the list of transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. They not only let to know the amount you’ve earned, but they also help you determine when your next payments are due.
Their dashboard can also allow you to see the overall sales taxes for your business. You can also export the information in CSV format. CSV file in case you require it in your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the channels you sell through. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds better. You’ll be aware of the budget you have available for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials not only on their platform, but everything related to sales tax. You can check out their webinars, guides, or blog posts for additional details. Apart from that, their sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason we’ll examine TaxJar’s pricing tiers and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the best plan if you need help with filing requirements or reporting. It includes the tax on sales, four autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small business proprietor, then this program should be perfect for you. It may not have all of TaxJar’s features but it comes with the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking to get that is more than the basics and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the basic plan?
In addition to having access to all of the Starter plan’s options, you also have access to their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you own a huge company, you may need to go for the Premium plan instead. It includes all of the features you need to help with your taxes. Additionally, they permit unlimited data import integrations, API integrations, team members, and AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Origan V Destination
But they did state that the plan is custom-made for each user. Therefore, the cost will differ according to what you require for your business.
Luckily, you don’t have to bet your life on it to determine if this service is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is a good fit for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar Let’s relax. To summarize, here are the pros and cons of using TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online 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.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform companies with many sales channels and utilizes many platforms. If that sounds like what you’re doing, then should try this.
Not only will it help you track your revenue and products however, it will also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can help you save more time while keeping the track of each deadline and obligation you have to fulfill. If you’re living in a place with complicated tax regulations, this will surely help you wrap your mind around it. TaxJar Origan V Destination
However, if managing your taxes is straightforward and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Origan V Destination
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into US$ prior to when TaxJar will calculate your tax.