Taxes have always been among 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 work can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford enough money to hire an accountant, making it your own can be risky. If you make a mistake it could mean you have to do it all over again!
Most people want to avoid this step. But since it’s required to be done, we can’t choose not to.
What can we do ?
We can simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. Even though this is an extensive read but you’ll be able to determine if TaxJar is the tool you require today.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar TaxJar Promo Coupon
Founded in 2013, TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure compliance with your sales taxes. It simplifies the processes that can take days to complete, and finish within minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by online business owners to keep everything simple and organized. Let’s look into the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting platform seamlessly works well along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one place. So, there’s no need to collect data in multiple channels and organize it into one platform. All you need to do is connect TaxJar, it will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms that they can connect with:
TaxJar allows customers to make sales tax filings by hand or using their AutoFile feature. In the purpose of this article, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all of those sales tools. When the time is right for the filing of income tax returns, the team will instruct you on managing them. However, it will be up for you and your staff to complete everything in time. TaxJar will only guide you on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. With this feature, everything will be automated from calculating sales tax through recording, and then processing them. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to all the information you need, like a list of your transactions, reports, as well as information.
The greatest benefit of this feature is that it allows you to automatically update every day. Not only will they let you know how much you’ve earned, but they also help you determine when your next payments are due.
Their dashboard also allows users to view in detail the total sales tax within your company. You can also export the information in the form of a CSV file if you need it to aid in financial planning and accounting processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the sales avenues you use. That means you won’t have to scramble for your documents when you need them in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also for anything connected to sales tax. You can check out their webinars, guides, or blog posts for additional information. Apart from that the sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll examine TaxJar’s pricing levels and the features that each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the most suitable plan for you to help you in filing and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small company manager, the plan will be ideal for you. It may not have all of TaxJar’s features however, it does include all the basics you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking to get different from the basics, then the Professional plan may be the best option for you. It starts at $99, but you can increase it if you add custom features.
What is the difference from the basic 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, API access, and the ability to do advanced CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to opt for premium plans instead. It includes all of the features you need to make your tax filing easier. Moreover, they allow unlimited integrations with data imports API integrationsfor team members and AutoFiles.
There is also a team dedicated for managing the account. They don’t reveal the price of the Premium plan. costs you. TaxJar Promo Coupon
However, they did mention that this plan is tailor-fit for each user. So the costs will vary according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to find out if the platform is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the advantages and disadvantages of using TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes numerous platforms. If that’s what you do, then you should try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business however, it will assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they provide the Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using TaxJar will help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Promo Coupon
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you find the whole procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Promo Coupon
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USUSD before TaxJar will calculate your tax.