Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have enough money to employ an accountant, performing the task on your own could be risky. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement, we have no choice.
So what can we do ?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can assist you. Although this is quite a long read, you should be able to gauge whether TaxJar is exactly what you need right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Plugin Requested
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to ensure that you are in compliance with sales taxes. It simplifies the processes that require days to complete and finish within only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by owners of online businesses to keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting platform seamlessly works well with your sales channel. If you’re selling through multiple channels, you must maintain everything in line. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your key metrics in one place. This means that there is no need to collect information from multiple sources and then organize it on one platform. All you have to do is to integrate TaxJar, then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. In our review we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all of those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on managing them. But, it is up for you and your team to complete everything on time. TaxJar is only there to provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating taxes on sales in order to record and process them. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff will have access to all the information you need, such as a list of your transactions, reports, as well as information.
The most appealing aspect of this feature is that they allow you to update your account automatically each day. Not only will they let you know how much you’ve accumulated however, they can also help you determine when your next payments are due.
The dashboard allows you to see the sales tax totals for your business. Additionally, you can export the data in CSV format. 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 helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training not only for their platform but everything related to sales tax. You can check out their webinars, guides, or blog posts for additional details. Additionally the sales tax calculator can be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes 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 plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They claim that it’s the most effective plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a smaller business manager, the plan could be ideal for you. It might not include all of TaxJar’s features but it comes with the essentials that you need.
You can also contact their support team with their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for something different from the basics and options, then the Professional plan may be the best option for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone access to APIs, as well as the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for premium plans instead. It comes with all the features you need to help with your taxes. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members and AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Plugin Requested
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different depending on what you need to run your business.
Luckily, you don’t have to bet your life on it to determine if this service is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you should be aware of TaxJar let’s take a breather. To sum it all up we’ll go over 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 help save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to 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 companies that have many sales channels and utilizes numerous platforms. If that’s what you’re doing, then you must try TaxJar.
Not only will it assist you in keeping track of your revenue and products however, it will help you meet your deadlines. This is also an excellent opportunity for accountants since they offer tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can surely help you wrap your head around it. TaxJar Plugin Requested
If handling your taxes is straightforward If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire process easy to do, you might be better to do it by yourself.
FAQ TaxJar Plugin Requested
Which areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as 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 to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USUSD before TaxJar determines the tax.