Taxes have always been among the hardest things to do regardless of whether you run your own business or not. More so if you don’t have a background in accounting or finance. Tax-related work aren’t easy, particularly when you’re packed with things to do. If you don’t have the budget to hire an accountant, performing the task on your own could be risky. If you make a mistake it could mean you have to redo things again!
Most people want to avoid this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and how it can assist you. While this is lengthy, you should be able to gauge whether TaxJar is what you need in the present.
Are you looking 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, we’ll dive right into.
What is TaxJar TaxJar Plugin
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to make their business more simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting system perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to collect data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar and the platform will do all the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes manually or through the AutoFile feature. For this review, we’ll take a look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of the sales channels you use. Once the time comes for filing income tax returns TaxJar will train you on managing these. But, it is up to you and your team to complete the process in time. TaxJar is only there to help you understand 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 won’t need to fill out any forms manually. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process it. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting problems. The orders you place through your online channels can be combined into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, like a list of your transactions, reports, as well as information.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. They not only let you know how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
The dashboard allows you to see the sales tax totals for your business. It is also possible to export the information as the form of a CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. That means you won’t have to hunt for your paperwork whenever you’re in a pinch. Even if you already have your accountant, this function can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have available for other operational costs.
But what’s even better is that TaxJar offers training and tutorials not only for their platform but everything related to sales tax. Check out their webinars, guides and blog for more info. Additionally the sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll examine TaxJar’s pricing levels and what each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most effective plan to help you with filing requirements or reporting. It comes with the tax on sales, four autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a smaller business owner, this plan will be ideal for you. It may not have all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact their support team with their email support chart. You’ll also have access to their integration features.
If you’re looking for something that is more than the basic features and options, then the Professional plan could be the one for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the starter plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to go for an upgrade instead. It has all of the features needed to help with your taxes. Moreover, they allow unlimited import integrations of data as well as API integrations, team members and AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Plugin
However, they did say that this plan is customized to each user. The cost of the plan will be different according to what you require to run your business.
Fortunately, you don’t need to gamble your money just to determine if this service is right for you. If you’re still looking into other options, they have a 30-day free trial. This should be enough time to gauge whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with many sales channels and utilizes numerous platforms. If that sounds like what you’re doing, then should try this.
Not only can it aid in tracking your revenue and products however, it will help you meet your deadlines. It’s also an excellent option for accountants as they offer tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this can surely help you wrap your mind around it. TaxJar Plugin
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure simple to follow, you might be better off doing it on your own.
FAQ TaxJar Plugin
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in US$. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar can calculate your tax.