Taxes are always one of the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is full of things to be done. If you don’t have enough money to employ an accountant, doing it on your own could be dangerous. If you overlook one thing and you don’t know it, you may 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 can we do about it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can help you. Even though this is an extensive read it is possible to determine if TaxJar is exactly what you need right now.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Quickbooks Online
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, 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 that you are in compliance with sales tax requirements. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s take a look at the benefits and features of TaxJar.
Services and features
One of the most important things you’ll need to make sure is that your accounting tax software perfectly integrates with your sales channel. If you have multiple sales channels, you must ensure that everything is in order. The most important thing is not to be penalized for 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, then the system will do all the rest.
Apart from that, TaxJar also integrates with other platforms that can 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 by hand or using TaxJar’s AutoFile feature. In our review we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns The team will guide you on how to manage these. But, it is up to you and your staff to complete the process within the timeframe. TaxJar will only 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 won’t need to fill out any forms manually. Through this feature, everything will be automated, from calculating taxes on sales to recording and processing them. There could be additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your team will have access to everything you require, including a list of your transactions, reports, and information.
The most appealing aspect of this option is the fact that it lets you to update automatically every day. Not only can they help to know the amount you’ve accumulated, but they also help you track when your following payments are due.
Their dashboard can also allow you to fully view the sales tax totals for your business. You can also export the data in a CSV file in case you require it to aid in process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to search for your documents when you need them in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also everything that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional info. Apart from that the sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It also includes sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller company manager, the plan could be perfect for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
Additionally, you can contact their customer support via their email support chart. You’ll also be able to use their integration capabilities.
If you’re looking for that is more than the standard features, then the Professional plan may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to choose premium plans instead. It includes all of the features you need to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as API integrations, team members and AutoFiles.
They also have a staff that is devoted for managing the account. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Quickbooks Online
However, they did say that the plan is custom-made for every user. The cost of the plan will be different in line with what you require to run your business.
Luckily, you don’t have to bet your life on it to find out if the platform is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is the right choice for you.
Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar Let’s relax. To sum it all up Here are the pros and cons of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- You can track several sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out, TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then should try this.
Not only can it assist you in keeping track of your products and revenue, but it can assist you in meeting your deadlines. It is also a great option for accountants as they offer tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you save more time while keeping track of every deadline and obligation you have to meet. If you’re in a place with complicated tax laws, this can surely help you wrap your mind around it. TaxJar Quickbooks Online
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Quickbooks Online
What areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into US$ prior to when TaxJar can calculate the tax.