Taxes have always been among the hardest things to do, whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is filled with tasks to complete. In the event that you do not have the budget to hire an accountant, doing it on your own could be dangerous. If you miss one detail, you might have to do it all over again!
Almost everyone wants 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 make life easier by using tools like TaxJar.
We’ll look at this popular life-saving tool and how it can help you. Even though this is an extensive read it is possible to assess whether TaxJar is exactly what you need today.
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 TaxJar’s features.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Pro Account
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. Additionally, you can use it across all your sales channels to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s explore the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to ensure is that your accounting tax software perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your key data in one location. So, there’s no need to gather information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to file their sales taxes either manually or via their AutoFile feature. For our review we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect the sales channels you use. When it comes time to filing income tax returns The team will guide you on managing these. It is up for you and your staff to finish the tax returns in time. TaxJar is only there to help you understand what you should do , but not to handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales tax to recording and processing them. There could be extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you need, like an inventory of your transactions, reports, and the data.
The best part about this feature is that it lets you to update automatically every day. Not only will they let you know how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard can also allow users to view in detail the total sales tax within your company. Additionally, you can export your data to the form of a CSV file if you need it in your accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all the sales avenues you use. It means you don’t need to search for your documents when you’re in the event of a need. Even even if you already have an accountant, this function will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform but all things related to sales tax. You can check out their webinars, guides and blog for more info. Additionally, their sales tax calculator is helpful if you’re planning on complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they can be too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan is priced at $19. The company claims that it’s the best plan for those who need assistance with filing requirements or reporting. It also includes the tax on sales, four annual AutoFiles for free, as well as an CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small business proprietor, then this program will be perfect for you. It may not have all of TaxJar’s features however, it does include all the basics 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 capabilities.
Professional
If you’re looking to get different from the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
How different is it from the original plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive company, you may need to choose the Premium plan instead. It includes all of the features you need to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrations, team users, and AutoFiles.
They also have a team who are devoted to managing your account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Pro Account
However, they did mention that the plan is custom-made to each user. So the costs will vary in line with what you require to run your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. It should give you enough time to gauge whether the software is a good fit for you.
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Pros and Cons
After we’ve gone over everything you should be aware of TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable for USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses numerous platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it aid in tracking your revenue and products It can also help you meet the deadlines you set. It’s also an excellent option for accountants as they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you reduce time and keep track of every deadline and obligation you have to meet. If you live in a place with complicated tax regulations, this will certainly help you to get your mind around it. TaxJar Pro Account
If handling taxes is easy, then TaxJar might not be a good investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure easy to complete then you’re better off doing it on your own.
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FAQ TaxJar Pro Account
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using a different currency, you will need to convert it into USdollars before TaxJar can calculate the tax.
