Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the budget to engage an accountant making it your own could be dangerous. If you make a mistake it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. But , as it’s a requirement to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can help you. While this is lengthy but you’ll be able to gauge whether TaxJar is the tool you require right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Quickbooks Online Integration
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It simplifies the processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check is your tax-reporting system is compatible 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 get a penalty for overlooking just one minor detail.
TaxJar allows you to show your key metrics in one spot. This means that there is no need to gather data from different channels and organize it into a single platform. All you need to do is connect TaxJar, then the system will do the rest.
In addition, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to submit their sales tax 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 it comes time to filing tax returns for income, the team will instruct you on how to manage the tax returns. It is up for you and your team members to finish the tax returns 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 for you. This means that you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated, from calculating sales taxes through recording, and then processing them. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. From there, you and your team can access everything you require, including an inventory of your transactions, reports, and the data.
The best part about the feature you’ve chosen is it allows you to automatically update every day. Not only will they let you keep track of how much you’ve collected, but they also help you track when your following payment is due.
The dashboard allows you to fully view the overall sales taxes within your company. You can also export the data in CSV format. CSV file if you need it for your process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of your sales channels. That means you won’t have to search for your documents whenever you’re in a pinch. Even if you already have your accountant, this function will help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything connected to sales tax. You can check out their webinars, guides or blog posts for additional details. Additionally, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those choices can provide you. Presently, TaxJar offers three plans that are: 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 sales tax reporting, four annual AutoFiles for free, as well as the option of a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small-scale company manager, the plan should be perfect for you. It might not include all the features of TaxJar, but it has all the basics you require.
You can also contact their support team with their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for something that is more than the standard features, then the Professional plan might be the right one for you. It’s priced at $99 but it can go higher if you add custom features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for premium plans instead. It includes all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited data import integrations Integrations with APIs, teams of users as well as AutoFiles.
There is also a team who are devoted for managing the account. They don’t reveal how much the Premium plan will cost you. TaxJar Quickbooks Online Integration
However, they did mention that the plan is custom-made for every user. So the costs will vary in line with what you require for your business.
Luckily, you don’t have to gamble your money just to see if this platform is right for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to determine whether the service is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize we’ll go over the pros and cons of using TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable for USA customers
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you should try this.
Not only will it help you track your revenue and products It can assist you in meeting your deadlines. It is also a great platform for an accountant since they have a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you reduce time and keep track of every deadline and requirement you have to fulfill. If you’re living in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar Quickbooks Online Integration
However, if managing your taxes is straightforward and straightforward, 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 everything. In addition, if you find the whole process easy to do then you’re better in doing it all on your own.
FAQ TaxJar Quickbooks Online Integration
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar will calculate your tax.