Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford enough money to engage an accountant making it your own can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to avoid this step. But since it’s required, we have no choice.
So , what can we do about it?
It is always possible to simplify our lives with tools such as TaxJar.
This article will take a look at this life-saving tool and how it can benefit you. Although this is quite lengthy it is possible to gauge whether TaxJar is what you need in the present.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What is TaxJar? TaxJar Partner Portal
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could can take days to complete, and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by owners of online businesses to keep everything simple and organized. Let’s look into the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is your tax-reporting software seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your key metrics in one place. So, there’s no need to gather data in multiple channels and sort it into one platform. All you need to do is integrate TaxJar it will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. For the purpose of this article, we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns TaxJar will train you on how to handle the tax returns. However, it will be up to you and your team to complete the process within the timeframe. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out any forms manually. Through this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. There could be extra fees if not part of the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting issues. The orders you place through your online channels can be combined into a single dashboard via this platform. From there, you and your team will have access to everything you need, like a list of your transactions, reports and the data.
The greatest benefit of the feature you’ve chosen is it allows you to update your account automatically each day. Not only can they help you know how much 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 you to fully view the overall sales taxes in your business. Additionally, you can export the data to CSV format. CSV file if you need it to aid in financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you need them in a pinch. Even even if you already have an accountant, this function will 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 exactly how much budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials, not just for their platform but all things connected to sales tax. Check out their webinars, guides as well as their blog to find more information. Additionally the 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 set your budget. Some platforms provide amazing features, but they can be too costly for your business. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you to help you with filing requirements or reporting. It also includes sales tax reporting, four free yearly AutoFiles, and an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small business owner, this plan should be perfect for you. It may not offer all of TaxJar’s features, but it has all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration features.
If you’re looking for a bit more than just the basic features, then the Professional plan might be the right one for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s options, you also have access to their phone customer support, API access, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to go for premium plans instead. It has all of the features that you require to help with your taxes. Moreover, they allow unlimited import integrations of data Integrations with APIs, teams of members, and AutoFiles.
There is also a team that is devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Partner Portal
However, they did mention that this plan is customized to each user. Therefore, the cost will differ depending on what you need to run your business.
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to see if the platform is an excellent fit for you.
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 Here are the pros and cons of using TaxJar to run your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- It allows you to monitor multiple 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 to USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to help you track the sales and profits of your business, but it can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they offer 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 on top of each deadline or requirement you need to meet. If you live in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar Partner Portal
However, if managing taxes is easy and straightforward, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the entire procedure easy to complete, you might be better to do it by yourself.
FAQ TaxJar Partner Portal
What are the areas in which TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it into USUSD prior to when TaxJar can calculate the tax.