Taxes have always been among the hardest things to do regardless of whether you run an enterprise or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the budget to engage an accountant performing the task on your own could be dangerous. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
It is always possible to make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can help you. While this is a long read, you should be able to determine if TaxJar is the tool you require today.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Paypal Duplicate Counting
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with sales tax requirements. 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 is used in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to ensure that everything is neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting software seamlessly works well with your sales channel. If you have multiple sales channels, you must maintain everything in line. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one place. That way, there’s no need to collect information from multiple sources and sort it into a single platform. All you need to do is to integrate TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes manually or through their AutoFile feature. For our review we’ll dig into both.
If you choose to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing income tax returns, the team will instruct you on managing these. However, it will be up for you and your team to complete the process within the timeframe. TaxJar is only there to guide you on what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales tax in order to record and process it. But, it is possible to incur extra fees if not part of 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 combined into a single dashboard via this platform. From there you and your staff can access everything you need, like an inventory of your transactions, reports and information.
The most appealing aspect of this option is the fact that it allows you to update automatically every day. Not only can they help to know the amount you’ve earned and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows users to view in detail the sales tax totals in your business. It is also possible to export the information in a CSV file in case you require it in your process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the sales avenues you use. It means you don’t need to search for your documents whenever you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your funds better. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials and tutorials, not just on their platform, but everything related to sales tax. You can look through their guides, webinars, and blog for more details. Apart from that, their sales tax calculator can be helpful if you’re planning on do everything on your own.
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 expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale business owner, this plan should be perfect for you. It may not have all the features of TaxJar 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.
If you’re looking for something different from the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the starter plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone access to APIs, as well as advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for an upgrade instead. It includes all of the features that you require to aid in your tax preparation. Additionally, they permit unlimited data import integrations as well as API integrations, team users, and AutoFiles.
There is also a team that is devoted in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Paypal Duplicate Counting
However, they did mention that this plan is tailor-fit for every user. So the costs will vary in line with what you require to run your business.
It’s a good thing that you don’t have to risk your money to see if this platform is right for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to see if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a breather. To sum it all up, here are the pros and cons of using TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several sales channels
- 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.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to help you track your products and revenue, but it can help you meet your deadlines. It is also a great platform for an accountant since they offer the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this can definitely help you get your head around the subject. TaxJar Paypal Duplicate Counting
However, if managing your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. Moreover, if you find the entire procedure simple to follow then you’re better to do it on your own.
FAQ TaxJar Paypal Duplicate Counting
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in US$. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar can calculate your tax.