Taxes are always one of the hardest things to do, whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. If you don’t have enough money to hire an accountant, doing it on your own can be dangerous. If you make a mistake, you might need to repeat the process!
Almost everyone wants to avoid this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. While this is a long read but you’ll be able to determine if TaxJar is the tool you require today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Python
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by online business owners to keep everything organized and straightforward. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure is your tax-reporting software is compatible with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one place. That way, 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 handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. In our review we’ll look at both.
If you choose to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to handle them. But, it is up for you and your team members to finish the tax returns on time. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. This feature will ensure that everything is automated, from calculating sales taxes in order to record and process them. There could be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you require, including the list of transactions, reports, and data.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. They not only let to know the amount you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows you to fully view the overall sales taxes in your business. You can also export the information in a CSV file, if you want to use it to aid in accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. That means you won’t have to hunt for your paperwork when you’re in the event of a need. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have to cover other operational costs.
The best part is that TaxJar provides training and tutorials not only for their platform but for anything that has to do with sales tax. You can check out their guides, webinars, or blog posts for additional details. Apart from that the sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing features, but they can be too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of these options can offer you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan costs $19. They say it’s the most suitable plan for you to help you with filing requirements and reporting. It comes with the tax on sales, four free yearly AutoFiles, and an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale business proprietor, then this program will be perfect for you. It may not offer 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 have access to their integration tools.
If you’re looking for something different from the basic features, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher when you add additional features.
How different is it from the original plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive company, you may need to go for an upgrade instead. It comes with all the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports API integrationsfor team members, and AutoFiles.
They also have a team who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Python
However, they did say that this plan is tailor-fit to each user. Therefore, the cost will differ depending on what you need to run your business.
Fortunately, you don’t need to risk your money to find out if the platform is right for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to see whether the service is the right choice for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize, here are the pros and cons of the use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Has support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it 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
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies that have many sales channels and utilizes numerous platforms. If that sounds like what you do, then you must try TaxJar.
Not only will it assist you in keeping track of your revenue and products however, it will assist you in meeting the deadlines you set. It is also a great platform for an accountant since they offer tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you get more done while keeping track of every deadline and obligation you have to fulfill. If you’re in a place with complicated tax laws, this can certainly help you to get your mind around it. TaxJar Python
However, if managing your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. If you find the entire procedure simple to follow and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Python
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using another currency, you will need to convert it into USdollars prior to when TaxJar determines your tax.