Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have a background in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to employ an accountant, performing the task on your own can be risky. If you make a mistake it could mean you have to redo things again!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do about it?
We can always make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and how it can help you. While this is lengthy, you should be able to assess whether TaxJar is exactly what you need today.
Are you looking to watch videos instead? Check out 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, then let’s dive right in.
What is TaxJar? TaxJar Pay
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. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to make sure is that your accounting tax software is compatible with your sales channel. If you’re selling through multiple channels, you must 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 display your most important metrics in one spot. This means that there is no need to collect information from multiple sources and organize it into a single platform. All you need to do is to integrate TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows customers to file their sales taxes either manually or via TaxJar’s AutoFile feature. In this review, we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all the sales channels you use. When it comes time to the filing of income tax returns, the team will instruct you on how to manage them. However, it will be up for you and your team members to complete the process within the timeframe. TaxJar is only there to provide guidance on what you have to accomplish, but not manage 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. This feature will ensure that everything will be automated from calculating taxes on sales through recording, and then processing them. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your team can access everything you require, including an inventory of your transactions, reports and the data.
The best part about the feature you’ve chosen is they allow you to update automatically every day. Not only can they help you know how much you’ve collected 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 sales tax totals in your business. Additionally, you can export your data to the form of a CSV file if you need it to aid in process of financial planning and accounting or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know exactly how much budget you have available for other operational expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their guides, webinars, as well as their blog to find more information. Additionally, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan if you need help with filing requirements or reporting. It includes the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small business owner, this plan will be perfect for you. It may not have all of TaxJar’s features however, it does include the essentials that you need.
In addition, you can reach the support team via their support chart for email. You’ll also have access to their integration tools.
If you’re looking for that is more than the basics, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to opt for premium plans instead. It has all of the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrationsfor team users and AutoFiles.
They also have a team dedicated for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Pay
But they did state that this plan is tailor-fit for each user. The cost of the plan will be different according to what you require for your business.
Fortunately, you don’t need to bet your life on it to determine if this service is right for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to determine if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you need to 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 to run your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
Not only will it help you track your revenue and products It can assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re in an area with complex tax laws, this can surely help you wrap your head around it. TaxJar Pay
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole procedure simple to follow then you’re better in doing it all on your own.
FAQ TaxJar Pay
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar will calculate your tax.