Taxes are always one of the most difficult tasks to complete regardless of whether you’re running an enterprise or not. Particularly if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the budget to engage an accountant performing the task on your own could be risky. If you miss one detail and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skip this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this well-known life-saving device and how it can help you. Even though this is a long read, you should be able to assess whether TaxJar is what you need in the present.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, then let’s dive right in.
What is TaxJar? TaxJar Outage
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all of your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is that your accounting tax platform is compatible with your sales channel. If you’re using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one spot. This means that there is no need to collect data in multiple channels and sort it into a single platform. All you have to do is integrate TaxJar then the system will do the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. In our review we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for the filing of income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up for you and your team to complete everything on time. TaxJar is only there to provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. With this feature, everything will be automated from calculating sales taxes to recording and processing it. However, there might be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. From there, you and your team will have access to everything you need, like an inventory of your transactions, reports and the data.
The best part about this option is the fact that it allows 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 payment is due.
Their dashboard can also allow you to see the overall sales taxes within your company. It is also possible to export your data in a CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the channels you sell through. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll know better how much budget you have available for other operational expenses.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything related to sales tax. Check out their webinars, guides and blog for more information. In addition the sales tax calculator can be helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing 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 plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the most effective plan for those who need assistance with filing requirements or reporting. It also includes taxes on sales and sales as well as four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax tips.
If you’re a small-scale business owner, this plan will be perfect for you. It may not have all the features of TaxJar however, it does include the essentials that you need.
In addition, you can reach their support team with their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking for that is more than the basics, then the Professional plan might be the right one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have their support via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to go for the Premium plan instead. It includes all of the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports Integrations with APIs, teams of members, and AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Outage
However, they did say that the plan is custom-made for every user. The cost of the plan will be different according to what you require for your company.
Free Trial
Luckily, you don’t have to risk your money to determine if this service is for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to gauge whether the software is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- 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
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it help you track your products and revenue, but it can help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this can surely help you wrap your head around it. TaxJar Outage
If handling your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire process easy to do, you might be better to do it on your own.
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FAQ TaxJar Outage
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll have to convert it into US$ before TaxJar can calculate the tax.
