Taxes have always been one of the hardest things to do regardless of whether you run a business or not. Particularly if you don’t have a background in finance or accounting. Tax-related work can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford enough money to engage an accountant doing it on your own can be dangerous. If you miss one detail, you might need to repeat the process!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
We can 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. Although this is quite lengthy it is possible to determine if TaxJar is exactly what you need today.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
If you prefer to read, let’s dive right in.
What is TaxJar? TaxJar Quickbooks Integration
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within only a few 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 extensively used by online business owners to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to ensure is your tax-reporting system perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to maintain everything in line. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your most important metrics in one place. So, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you have to do is to integrate TaxJar and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar lets customers make sales tax filings by hand or using their AutoFile feature. For this review, we’ll take a look into both.
If you opt to do it manually, TaxJar will allow you to connect all of the sales channels you use. When it comes time to the filing of income tax returns TaxJar will train you on managing the tax returns. It is up to you and your team to complete everything on time. TaxJar is only there to guide you on what you have to do but not 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 will be automated, from calculating sales tax in order to record and process them. However, there might be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting problems. The orders you place through your online 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 require, including a list of your transactions, reports, and the data.
The most appealing aspect of this option is the fact that they allow you to automatically update every day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to see the total sales tax in your business. It is also possible to export the data in a CSV file if you need it for your accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. This means that you don’t have to search for your documents when you need them in a pinch. Even even if you already have an accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will help you plan your funds better. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar offers tutorials and training, not just on their platform, but all things that has to do with sales tax. You can check out their webinars, guides or blog posts for additional details. In addition the sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing levels and what each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. The company claims that it’s the most suitable plan for you for those who need assistance with filing requirements and reporting. It includes 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 smaller company manager, the plan will be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking to get different from the standard features, then the Professional plan may be the best option for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the starter plan?
In addition to accessing every one of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to choose the Premium plan instead. It comes with all the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data Integrations with APIs, teams of members, and AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan will cost you. TaxJar Quickbooks Integration
But they did state that this plan is customized for every user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still considering other options, they have 30 days of free trial. This should be enough time to determine whether the software is an excellent fit for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- 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 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 this sounds like the way you’re doing, then you ought to try this.
Not only can it assist you in keeping track of your revenue and products however, it will also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar will help you reduce time and keep the track of each deadline or requirement you need to meet. If you’re living in a place with complicated tax laws, this will surely help you wrap your mind around it. TaxJar Quickbooks Integration
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Quickbooks Integration
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like Australia, 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 with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into USdollars before TaxJar determines the tax.