Taxes have always been among the hardest things to do regardless of whether you run a business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is packed with things to do. In the event that you do not have enough money to hire an accountant, performing the task on yourself can be dangerous. If you overlook one thing, you might have to do it all over again!
Almost everyone wants to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can benefit you. Even though this is an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What is TaxJar? TaxJar Plans
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to ensure compliance with your sales taxes. It makes the process simpler that could take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is simple and organized. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. So, there’s no need to gather data from different channels and sort it into one platform. All you have to do is connect TaxJar and the platform will do the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they are able to integrate with:
TaxJar lets customers submit their sales tax by hand or using the AutoFile feature. In the purpose of this article, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income The team will guide you on how to handle the tax returns. It is up to you and your team members to complete everything on time. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes to recording and processing it. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting problems. The orders you place through your online channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to everything you require, including a list of your transactions, reports, as well as data.
The most appealing aspect of this feature is that it lets you to automatically update every day. They not only let you keep track of how much you’ve earned and how much you’ve earned, but they also let you track when your following payments are due.
The dashboard allows users to view in detail the sales tax totals in your business. It is also possible to export the data to a CSV file in case you require it in your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all the channels you sell through. It means you don’t need to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have to cover other operational costs.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also for anything related to sales tax. You can check out their guides, webinars, or blog posts for additional details. Apart from that the sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most effective plan if you need help with filing requirements or reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan should be perfect for you. It might not include all the features of TaxJar but it comes with the basic features you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get a bit more than just the basic features, then the Professional plan could be the one for you. It starts at $99, however, it could go up by adding custom features.
What is the difference from the original plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you run a large business, you might need to go for an upgrade instead. It has all of the features you need to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrations, team members, and AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal how much the Premium plan costs you. TaxJar Plans
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require for your business.
Luckily, you don’t have to gamble your money just to find out if the platform is right for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several 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 valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If that’s what you’re doing, then you ought to try this.
Not only can it help you track your products and revenue, but it can help you meet the deadlines you set. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to meet. If you live in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar Plans
If handling your taxes is simple, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to track all of it. If you find the whole procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Plans
What are the areas in which TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions are in US$. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar can calculate the tax.