Taxes have always been one of the hardest things to do, whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related issues aren’t easy, particularly when your whole day is packed with things to do. In the event that you do not have the funds to hire an accountant, doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
So what is the best way to deal with it?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and how it can assist you. Even though this is lengthy but you’ll be able to assess whether TaxJar is exactly what you need in the present.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Postman
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all of the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check you have a tax accounting system perfectly integrates with your sales channel. If you’re selling through multiple channels, you need 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 display your most important data in one location. So, there’s no requirement to collect data from different channels and sort it into one platform. All you need to do is connect TaxJar, and the platform will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they are able to integrate with:
Filing
TaxJar lets customers make sales tax filings either manually or via the AutoFile feature. In our review we’ll look into both.
If you opt to go it alone, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns TaxJar will train you on managing these. It is up to you and your staff to finish the tax returns in time. TaxJar will only help you understand what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating sales tax through recording, and then processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting problems. The orders you place through your online channels can be compiled into a single dashboard via this platform. From there you and your team can access everything you need, like the list of transactions, reports and data.
The best part about this feature is that it allows you to automatically update every day. They not only let to know the amount you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows users to view in detail the total sales tax within your company. Additionally, you can export the data in the form of a CSV file in case you require it to aid in financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even when you already have your accountant, this function can help them be 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 for other operating expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but everything related to sales tax. Check out their webinars, guides as well as their blog to find more info. In addition, their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We understand how important it is to set 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 the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It includes sales tax reporting, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a smaller business manager, the plan will be ideal for you. It may not offer all the features of TaxJar, but it has the essentials that you need.
You can also contact their customer support via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking to get different from the standard features, then the Professional plan could be the one for you. The price starts at $99 however, it could go up when you add additional features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to go for premium plans instead. It has all of the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as API integrations, team members and AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the price of the Premium plan. costs you. TaxJar Postman
But they did state that this plan is customized for each user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to see whether the service is the right choice for you.
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Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a breather. To sum it all up, here are the pros and cons of the use of TaxJar for your business.
Pros
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If that’s what you’re doing, then must try TaxJar.
Not only can it aid in tracking your revenue and products, but it can help you meet the deadlines you set. It is also a great platform for an accountant since they have tax Advisor program. There are tips to follow and get knowledge from their seminars on taxes by using it.
The use of TaxJar can help you reduce time and keep track of every deadline and obligation you have to meet. If you’re living in an area with complex tax laws, this can certainly help you to get your mind around it. TaxJar Postman
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire procedure simple to follow, you might be better to do it on your own.
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FAQ TaxJar Postman
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate 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 cannot convert currency values. The transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar will calculate the tax.
