Taxes are always one of the most difficult tasks to complete, whether you’re running an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. When you’re not able to afford enough money to employ an accountant, making it yourself can be dangerous. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this life-saving device and how it can help you. Although this is quite a long read but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar TaxJar Pa Tax Blog
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all the sales channels you use to make sure you’re in compliance with sales taxes. It makes the process simpler that could require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services, and even 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 features and services offered by TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting software seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your key data in one location. That way, there’s no need to gather data in multiple channels and then organize it on one platform. All you need to do is integrate TaxJar, it will do the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms that they can connect with:
Filing
TaxJar allows clients to submit their sales tax either manually or via the AutoFile feature. In our review we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect your sales platforms. When the time is right for filing tax returns for income The team will guide you on how to handle them. It is up for you and your staff to complete everything within the timeframe. TaxJar is only there to provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes to recording and processing it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be compiled into one dashboard using this platform. From there, you and your team will have access to everything you need, such as a list of your transactions, reports and information.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the total sales tax within your company. Additionally, you can export your data to CSV format. CSV file, if you want to use it in your process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. This means that you don’t have to search for your documents when you’re when you’re in a pinch. Even if you already have your accountant, this function will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, and blog for more info. Additionally their sales tax calculator should 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 set your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small-scale company proprietor, then this program should be ideal for you. It may not offer all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for that is more than the basic features and options, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
How different is it from the basic plan?
Apart from 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 the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you run a large business, you might need to opt for premium plans instead. It comes with all the features that you require to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports API integrations, team members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Pa Tax Blog
However, they did mention that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Luckily, you don’t have to bet your life on it to see if this platform is the right one for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to see if the platform is an excellent fit for you.
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Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of using TaxJar for your company.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only valid for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only will it aid in tracking the sales and profits of your business It can help you meet the deadlines you set. It is also a great platform for an accountant since they provide tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you save more time while keeping track of every deadline and requirement you have to fulfill. If you live in a place with complicated tax laws, this will certainly help you to get your head around the subject. TaxJar Pa Tax Blog
But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure simple to follow then you’re better to do it by yourself.
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FAQ TaxJar Pa Tax Blog
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in US$. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar will calculate your tax.
