Taxes are always one of the hardest things to do regardless of whether you run an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. In the event that you do not have enough money to employ an accountant, doing it on your own could be dangerous. If you make a mistake and you don’t know it, you may 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.
What is the best way to deal with it?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and explain how it can help you. Even though this is an extensive read it is possible to determine if TaxJar is what you need today.
Do you prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
For those who like to read, then we’ll dive right into.
What is TaxJar TaxJar Payscale
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that require days to complete and finish within only a few minutes.
TaxJar has been utilized in different industries such as 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 ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax software perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your key data in one location. This means that there is no requirement to collect data in multiple channels and then organize it on one platform. All you need to do is connect TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows customers to make sales tax filings manually or through the AutoFile feature. For this review, we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect those sales tools. When the time is right for filing tax returns for income The team will guide you on how to manage the tax returns. However, it will be up for you and your team to finish the tax returns on time. TaxJar is only there to help you understand what you have to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes in order to record and process them. There could be extra fees if not included in the plan you choose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, like a list of your transactions, reports, as well as data.
The most appealing aspect of this option is the fact that they allow you to update your account automatically each day. Not only can they help to know the amount you’ve accumulated, but they also help you determine when your next payments are due.
The dashboard allows users to view in detail the overall sales taxes in your business. It is also possible to export your data to CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to hunt for your paperwork when you’re in a pinch. Even when you already have your accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll know better how much budget you have for other operating expenses.
But what’s even better is that TaxJar provides training and tutorials, not just for their platform but all things that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more information. Additionally their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and the option of a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller company manager, the plan will be perfect for you. It might not include all the features of TaxJar however, it does include the essentials that you need.
In addition, you can reach their customer support via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something different from the basic features Professional may be the best option for you. It starts at $99, but you can increase it 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 get access to their support via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need 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 members, and AutoFiles.
There is also a team dedicated in managing your accounts. But, they don’t divulge the price of the Premium plan. costs you. TaxJar Payscale
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different depending on what you need for your company.
Luckily, you don’t have to gamble your money just to determine if this service is for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- 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 review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can help you meet your deadlines. It’s also an excellent platform for an accountant since they have tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
The use of TaxJar can help you get more done while keeping the track of each deadline and requirement you have to meet. If you’re in a place with complicated tax laws, this can surely help you wrap your head around it. TaxJar Payscale
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire procedure simple to follow then you’re better in doing it all on your own.
FAQ TaxJar Payscale
What areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into USdollars before TaxJar will calculate the tax.