Taxes are always one of the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, especially 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 could be risky. If you overlook one thing and you don’t know it, you may have to redo things again!
Almost everyone wants to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can assist you. Even though this is an extensive read but you’ll be able to assess whether TaxJar is what you need in the present.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Professional
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all the sales channels you use to ensure that you are in compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few only a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax system seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to collect data in multiple channels and then organize it on one platform. All you need to do is to integrate TaxJar and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to file their sales taxes manually or through the AutoFile feature. In our review we’ll look at both.
If you opt to do it manually, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage the tax returns. But, it is up for you and your team to finish the tax returns within the timeframe. TaxJar is only there to provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means 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 in order to record and process it. However, there might be additional costs if the feature is not included in the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into one dashboard using this platform. From there you and your staff will have access to everything you require, including an inventory of your transactions, reports and information.
The best part about this option is the fact that it lets you to update automatically every day. Not only can they help you know how much you’ve earned however, they can also help you determine when your next payments are due.
The dashboard allows users to view in detail the overall sales taxes in your business. It is also possible to export the information as a CSV file in case you require it in your accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping 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 can help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds better. You’ll know better how much budget you have to cover other operating costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything related to sales tax. Check out their webinars, guides or blog posts for additional details. In addition their sales tax calculator is helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and the features that each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the most effective plan to help you in filing and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small company manager, the plan will be perfect for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration features.
If you’re looking for different from the basic features and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it by adding custom features.
How different is it from the basic plan?
In addition to accessing all of the Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to opt for premium plans instead. It comes with all the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data, API integrations, team users, and AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Professional
However, they did mention that this plan is tailor-fit to each user. The cost of the plan will be different in line with what you require to run your business.
Fortunately, you don’t need to risk your money to see if this platform is the right one for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to see if the platform is the right choice for you.
Pros and Pros and
We’ve covered everything you must know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- 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
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have multiple sales channels and uses many platforms. If that’s what you’re doing, then should try this.
Not only will it aid in tracking the sales and profits of your business, but it can also help you meet the deadlines you set. It is also a great opportunity for accountants since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Utilizing TaxJar can allow you to get more done while keeping the track of each deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this will definitely help you get your head around the subject. TaxJar Professional
If handling taxes is easy and straightforward, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure easy to complete, you might be better off doing it by yourself.
FAQ TaxJar Professional
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in US$. If you’re using another currency, you’ll need to convert it into USUSD prior to when TaxJar can calculate the tax.