Taxes are always one of the most difficult things to handle regardless of whether you run 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 full of things to be done. In the event that you do not have the funds to engage an accountant making it your own could be risky. 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. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
We can always make life easier 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 gauge whether TaxJar is exactly what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, let’s get right into it.
What is TaxJar TaxJar Price
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your sales channels to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is your tax-reporting software is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to collect information from multiple sources and then organize it on one platform. All you need to do is connect TaxJar, and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they can integrate with:
Filing
TaxJar allows customers to file their sales taxes manually or through TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to handle them. But, it is up for you and your team to complete the process within the timeframe. TaxJar is there to help you understand what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit all forms by hand. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team will have access to all the information you need, such as an inventory of your transactions, reports, as well as data.
The greatest benefit of this feature is that they allow you to update automatically every day. They not only let you know how much you’ve accumulated and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to see the sales tax totals in your business. It is also possible to export the information in the form of a CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. That means you won’t have to search for your documents when you need them in a pinch. Even when you already have your accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds more effectively. You’ll know exactly how much budget you have available for other operational expenses.
The best part is that TaxJar provides training and tutorials not only for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more details. Apart from that, their sales tax calculator is 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 determine your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance in filing and reporting. It comes with the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small business manager, the plan should be perfect for you. It may not have all the features offered by TaxJar but it comes with the basic features you require.
In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration features.
Professional
If you’re looking to get that is more than the standard features, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
What is the difference from the original plan?
Apart from having access to all of the Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you own a huge enterprise, you may want to opt for the Premium plan instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited data import integrations, API integrations, team users as well as AutoFiles.
They also have a staff dedicated to managing your account. They don’t reveal how much the Premium plan is going to cost. TaxJar Price
However, they did mention that this plan is tailor-fit for every user. So the costs will vary according to what you require for your business.
Free Trial
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still considering other options, they have 30 days of free trial. This should give you enough time to gauge whether the service is an excellent fit for you.
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Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. To summarize Here are the pros and cons of using TaxJar to run your business.
Pros
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have many sales channels and utilizes many platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it aid in tracking the sales and profits of your business however, it will also help you meet the deadlines you set. It’s also an excellent opportunity for accountants since they provide tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
Using TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to fulfill. If you live in a region with a lot of tax laws, this will surely help you wrap your head around the subject. TaxJar Price
If handling your taxes is simple and straightforward, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole process easy to do, you might be better off doing it on your own.
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FAQ TaxJar Price
What are the areas in which TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar will calculate the tax.
