Taxes have always been one of the hardest things to do regardless of whether you’re running your own business or not. More so if you don’t have any experience in accounting or finance. Tax-related issues aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford the funds to hire an accountant, doing it on your own can be risky. If you miss one detail and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
So , what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. Even though this is lengthy it is possible to gauge whether TaxJar is exactly what you need right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar Priicg
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it across all your channels of sales to make sure you’re in compliance with your sales taxes. It simplifies the processes that take days to complete and is completed in just a few only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is that your accounting tax system perfectly integrates along with sales funnels. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your most important metrics in one place. This means that there is no need to collect data in multiple channels and organize it into one platform. All you need to do is integrate TaxJar and the platform will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers submit their sales tax manually or through TaxJar’s AutoFile feature. In this review, we’ll dig into both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns, the team will instruct you on how to manage the tax returns. But, it is up to you and your team members to complete everything on time. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out any forms manually. This feature will ensure that everything is automated, from calculating sales taxes in order to record and process them. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. 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 staff will have access to everything you require, including a list of your transactions, reports and the data.
The best part about this option is the fact that it allows you to automatically update every day. Not only can they help you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the total sales tax within your company. It is also possible to export the information as the form of a CSV file in case you require it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep on top of all the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in a pinch. Even even if you already have an accountant, this function will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have available for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform but for anything that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional information. Additionally, their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes 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 recommendations.
If you’re a small-scale company proprietor, then this program could be ideal for you. It may not have all the features of TaxJar, but it has the basic features you require.
In addition, you can reach 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 standard features Professional could be the one for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the starter plan?
In addition to accessing each of Starter plan’s features, you also have their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to go for premium plans instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports, Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff that is devoted to managing your account. They don’t reveal the amount that the Premium plan will cost you. TaxJar Priicg
However, they did say that this plan is customized for every user. So the costs will vary in line with what you require for your business.
It’s a good thing that you don’t have to bet your life on it to find out if the platform is for you. If you’re still considering different options, they offer a 30-day free trial. It should give you enough time to gauge if the platform is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it 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 for USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you should try this.
Not only will it help you track the sales and profits of your business however, it will also help you meet your deadlines. It’s also an excellent option for accountants as they offer tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to get more done while keeping on top of each deadline and obligation you have to fulfill. If you live in an area with complex tax laws, this will certainly help you to get your head around the subject. TaxJar Priicg
However, if managing taxes is easy 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 track all of it. In addition, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Priicg
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar can calculate your tax.