Taxes have always been one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the funds to engage an accountant performing the task on your own can be risky. If you miss one detail it could mean you need to repeat the process!
Most people want to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what can we do about it?
We can make our lives easier by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is an extensive read, you should be able to assess whether 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 analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Physical Presence
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It streamlines processes that 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.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax platform perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. This means that there is no need to gather data in multiple channels and sort it into one platform. All you need to do is integrate TaxJar it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. In our review we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns, the team will instruct you on how to handle these. It is up for you and your team to finish the tax returns within the timeframe. TaxJar is there to help you understand what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating taxes on sales through recording, and then processing it. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team will have access to everything you need, like the list of transactions, reports, and the data.
The best part about this feature is that they allow you to update automatically every day. Not only will they let to know the amount you’ve earned however, they can also help you track when your following payment is due.
The dashboard allows users to view in detail the total sales tax within your company. It is also possible to export your data to a CSV file, if you want to use it for your accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to scramble for your documents whenever you’re in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials, not just on their platform, but everything related to sales tax. Check out their webinars, guides, as well as their blog to find more info. Additionally, their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for 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. They say it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes the tax on sales, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you will be able to access their AI tax tips.
If you’re a small company proprietor, then this program should be perfect for you. It may not have all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their support team with their email support chart. You’ll also have access to their integration tools.
If you’re looking for a bit more than just the standard features and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to opt for the Premium plan instead. It comes with all the features you need to aid in your tax preparation. Moreover, they allow unlimited data import integrations, API integrations, team users and AutoFiles.
They also have a staff who are devoted to managing your account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Physical Presence
However, they did say that this plan is tailor-fit to each user. The cost of the plan will be different according to what you require for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you must know about TaxJar Let’s relax. To summarize Here are the pros and cons of making use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then should try this.
It’s not just a way to aid in tracking the sales and profits of your business It can help you meet your deadlines. It is also a great platform for an accountant since they have a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you save more time while keeping on top of each deadline or requirement you need to meet. If you live in an area with complex tax regulations, this will certainly help you to get your head around it. TaxJar Physical Presence
If handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. 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’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Physical Presence
Which areas does TaxJar offer API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar will calculate the tax.