Taxes have always been one of the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when you’re packed with things to do. If you don’t have the budget to engage an accountant doing it on your own can be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Most people want to skipping this step. However, since it’s mandatory, we have no 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 popular life-saving tool and explain how it can assist you. Although this is quite lengthy but you’ll be able to determine if TaxJar is the tool you require today.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Promotional Coupon
The company was founded in 2013 TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales taxes. It makes the process simpler that could can take 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 establishments.
How can it help you?
TaxJar is widely used by business owners who run online businesses to make their business more organized and straightforward. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check is your tax-reporting platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one spot. So, there’s no requirement to collect data from different channels and organize it into a single platform. All you have to do is to integrate TaxJar, and the platform will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers submit their sales tax by hand or using TaxJar’s AutoFile feature. For this review, we’ll look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns, the team will instruct you on managing the tax returns. It is up for you and your staff to complete everything within the timeframe. TaxJar is there to provide guidance on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales taxes through recording, and then processing it. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you need, such as the list of transactions, reports, and the data.
The greatest benefit of this feature is that they allow you to update automatically every day. They not only let you keep track of how much you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard also allows you to see the overall sales taxes for your business. Additionally, you can export the information to a CSV file, if you want to use it in your process of financial planning and accounting or if you require it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re in a pinch. Even if you already have your 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 know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials not only for their platform but for anything that has to do with sales tax. You can look through their webinars, guides, as well as their blog to find more information. Additionally the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason we’ll examine TaxJar’s pricing structures and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes sales tax reporting, 4 autofiles for free each year, and an CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small business proprietor, then this program could be ideal for you. It may not have all the features offered by TaxJar however, it does include the essentials that you need.
In addition, you can reach the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for different from the basic features, then the Professional plan might be the right one for you. It’s priced at $99 but you can increase it if you add custom features.
So how different is it from the original plan?
In addition to accessing each of Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. You can also have 12 free AutoFiles each year.
Premium
If you own a huge business, you might need to opt for the Premium plan instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited data import integrations as well as Integrations with APIs, teams of users, and AutoFiles.
There is also a team dedicated for managing the account. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Promotional Coupon
However, they did mention that this plan is customized for each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
Fortunately, you don’t need to bet your life on it to find out if the platform is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should be enough time to see whether the service is a good fit for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To sum it all up Here are the advantages and disadvantages of using TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax calculator
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to 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 many sales channels and utilizes numerous platforms. If that’s what you’re doing, then must try TaxJar.
Not only will it aid in tracking your products and revenue however, it will also help you meet your deadlines. It is also a great platform for an accountant since they offer tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to reduce time and keep on top of each deadline and requirement you have to fulfill. If you’re living in a place with complicated tax laws, this can definitely help you get your head around it. TaxJar Promotional Coupon
But if handling taxes is easy, then TaxJar may be an unnecessary investment. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
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FAQ TaxJar Promotional Coupon
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you’ll have to convert it to USdollars before TaxJar determines your tax.
