Taxes are always one of the most difficult things to handle regardless of whether you’re running your own business or not. Even more so if you do not have any experience in finance or accounting. Tax-related tasks aren’t easy, particularly when your whole day is full of things to be done. In the event that you do not have enough money to engage an accountant doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Almost everyone wants to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do ?
It is always possible to make our lives easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can help you. While this is an extensive read it is possible to assess whether TaxJar is what you need right now.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Price Structure
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with sales taxes. It simplifies the processes that take days to complete and finish within minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by owners of online businesses to make their business more organized and straightforward. 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 software seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. So, there’s no need to collect data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar, it will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar lets customers make sales tax filings by hand or using TaxJar’s AutoFile feature. In our review we’ll take a look at both.
If you choose to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns TaxJar will train you on how to manage them. But, it is up to you and your staff to complete everything on time. TaxJar will only help you understand what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. This feature will ensure that everything will be automated from calculating sales tax through recording, and then processing them. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be combined into a single dashboard via this platform. From there you and your team can access everything you need, like a list of your transactions, reports, as well as data.
The best part about this feature is that it lets you to update your account automatically each day. They not only let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows users to view in detail the total sales tax for your business. It is also possible to export your data as CSV format. CSV file in case you require it for your process of financial planning and accounting or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this feature 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 be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just for their platform but for anything related to sales tax. Check out their webinars, guides, or blog posts for additional information. In addition the sales tax calculator can be useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They say it’s the best plan if you need help with filing requirements or reporting. It also includes the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a smaller company owner, this plan could be ideal for you. It might not include all of TaxJar’s features but it comes with the essentials that you need.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration tools.
If you’re looking to get that is more than the basics Professional could be the one for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the original plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to opt for the Premium plan instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, API integrations, team members, and AutoFiles.
There is also a team that is devoted to managing your account. They don’t reveal how much the Premium plan is going to cost. TaxJar Price Structure
However, they did say that this plan is customized for every user. Therefore, the cost will differ in line with what you require to run your business.
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still considering various options, they provide 30 days of free trial. It should give you enough time to determine whether the service is a good fit for you.
Pros and Cons
Now that we’ve covered all you should know about TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar for your company.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has 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.
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking your products and revenue It can assist you in meeting your deadlines. This is also an excellent 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.
Utilizing TaxJar can allow you to save more time while keeping track of every deadline or requirement you need to meet. If you’re in a place with complicated tax laws, this can certainly help you to get your head around it. TaxJar Price Structure
But if handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. In addition, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all on your own.
FAQ TaxJar Price Structure
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar will calculate your tax.