Taxes are always one of the hardest things to do regardless of whether you’re running an enterprise or not. Even more so if you do not 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 the funds to hire an accountant, making it yourself can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But since it’s required to be done, we can’t choose not to.
So , what can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can help you. Although this is quite an extensive read, you should be able to determine if TaxJar is exactly 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 give a complete review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Promotion
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to make sure you’re in compliance with your sales taxes. It streamlines processes that can take days to complete, and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by owners of online businesses to ensure that everything is organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting software perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must keep everything in place. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your most important data in one location. This means that there is no need to gather data in multiple channels and organize it into one platform. All you need to do is integrate TaxJar then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings either manually or via the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to handle these. But, it is up for you and your team to finish the tax returns in time. TaxJar is only there to guide you on what you need to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. Through this feature, everything is automated, from calculating sales taxes to recording and processing it. However, there might be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be combined 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 information.
The most appealing aspect of the feature you’ve chosen is it allows you to automatically update every day. They not only let you keep track of how much you’ve accumulated however, they can also help you keep track of when the next payment is due.
Their dashboard can also allow users to view in detail the sales tax totals within your company. Additionally, you can export your data as the form of a CSV file, if you want to use it to aid in financial planning and accounting processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to search for your documents when 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 will help you plan your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform but everything connected to sales tax. You can look through their guides, webinars, or blog posts for additional info. Additionally their sales tax calculator is beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing features, but they can be 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. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you to help you in filing and reporting. It also includes sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale business owner, this plan will be perfect for you. It might not include all the features of TaxJar but it comes with all the basics you require.
You can also contact the support team via their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for something a bit more than just 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 when you add additional features.
So how different is it from the original plan?
In addition to having access to every one of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you own a huge enterprise, you may want to go for an upgrade instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited data import integrations API integrationsfor team users as well as AutoFiles.
They also have a team dedicated for managing the account. They don’t reveal the price of the Premium plan. costs you. TaxJar Promotion
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require for your business.
Fortunately, you don’t need to bet your life on it to determine if this service is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a break. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online 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.
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then should try this.
It’s not just a way to help you track the sales and profits of your business however, it will assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they provide tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
The use of TaxJar can help you save more time while keeping track of every deadline and requirement you have to fulfill. If you’re in an area with complex tax laws, this will definitely help you get your mind around it. TaxJar Promotion
If handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole procedure simple to follow, you might be better off doing it on your own.
FAQ TaxJar Promotion
Which 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 with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USdollars before TaxJar determines your tax.