Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. In the event that you do not have the budget to hire an accountant, performing the task on your own could be dangerous. If you overlook one thing and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what can we do ?
We can always make life easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can help you. Even though this is lengthy it is possible to assess whether TaxJar is exactly what you need right now.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then let’s dive right in.
What is TaxJar TaxJar Promo
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by online business owners to make their business more simple and organized. Let’s look into their features and services.
Features and services
One of the first things you’ll need to make sure you have a tax accounting platform perfectly integrates with your sales channel. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. So, there’s no need to gather information from multiple sources and then organize it on a single platform. All you have to do is to integrate TaxJar then the system will do the rest.
Other than 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 make sales tax filings by hand or using the AutoFile feature. In the purpose of this article, we’ll dig into both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income, the team will instruct you on how to handle them. It is up to you and your team members to complete the process on time. 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 – that means you don’t have to submit the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes to recording and processing it. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to all the information you require, including an inventory of your transactions, reports, and data.
The greatest benefit of the feature you’ve chosen is it lets you to automatically update every day. Not only can they help to know the amount you’ve collected, but they also help you determine when your next payments are due.
The dashboard allows users to view in detail the total sales tax in your business. It is also possible to export the information as CSV format. CSV file if you need it in your financial planning and accounting processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to hunt for your paperwork when you’re when you’re 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 allow you to allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
But what’s even better is that TaxJar provides training and tutorials not only for their platform , but also all things related to sales tax. You can check out their webinars, guides, as well as their blog to find more info. In addition their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the most effective plan if you need help with filing requirements and reporting. It includes sales tax reporting, 4 annual AutoFiles for free, as well as the option of a CSV import. With the starter plan, you will be able to access their AI tax advice.
If you’re a small company proprietor, then this program will be ideal for you. It might not include all of TaxJar’s features however, it does include the essentials that you need.
You can also contact the support team via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for something different from the basics Professional may be the best option for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you have a massive business, you might need to choose the Premium plan instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited data import integrations Integrations with APIs, teams of users as well as AutoFiles.
They also have a team that is devoted to managing your account. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Promo
But they did state that this plan is customized to each user. So the costs will vary in line with what you require to run your business.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to gauge whether the service is the right choice for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the advantages and disadvantages of making use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is easy 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
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then you ought to try this.
Not only can it aid in tracking your revenue and products however, it will help you meet the deadlines you set. It is also a great opportunity for accountants since they have tax Advisor program. There are tips to follow and learn from their sessions about taxes through it.
Utilizing TaxJar can help you get more done while keeping on top of each deadline or requirement you need to meet. If you’re in a place with complicated tax laws, this can definitely help you get your head around the subject. TaxJar Promo
If handling taxes is easy If it isn’t, then TaxJar might not be a good investment. If you only have one or two channels for sales, TaxJar won’t be needed to track everything. If you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Promo
Which areas does TaxJar provide API support?
TaxJar currently supports countries like 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 to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions’ amounts are in USdollars. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar will calculate the tax.