Taxes have always been one of the most difficult tasks to complete regardless of whether you’re running your own business or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have the funds to employ an accountant, performing the task on yourself can be risky. If you miss one detail, you might have to redo things again!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do ?
We can make our lives easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is the tool you require right now.
Do you prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Quickoboks Online
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to 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 require days to complete and finish within just a few minutes.
TaxJar has been used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. 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 system perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. So, there’s no need to gather data from different channels and then organize it on one platform. All you have to do is to integrate TaxJar, then the system will do the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. In this review, we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns The team will guide you on how to handle the tax returns. But, it is up for you and your team to complete the process within the timeframe. TaxJar will only provide guidance 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 won’t need to fill out any forms manually. With this feature, everything is automated, from calculating taxes on sales through recording, and then processing them. There could be additional charges if they are not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team can access everything you require, including an inventory of your transactions, reports, as well as data.
The best part about this feature is that it allows you to automatically update every day. Not only can they help you know how much you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
The dashboard allows users to view in detail the sales tax totals in your business. It is also possible to export the information in the form of a CSV file if you need it for your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll know exactly how much budget you have available for other operational costs.
The best part is that TaxJar provides training and tutorials, not just on their platform, but all things related to sales tax. Check out their guides, webinars, as well as their blog to find more info. In addition their sales tax calculator can be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they can be too expensive for businesses. This is why in this section we’ll examine TaxJar’s pricing structures and the features that each of these plans can offer. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most effective plan if you need help in filing and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and an CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a smaller business proprietor, then this program could be ideal for you. It might not include all of TaxJar’s features but it comes with the essentials that you need.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration features.
If you’re looking for something that is more than the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
How different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you run a large company, you may need to choose the Premium plan instead. It includes all of the features needed to aid in your tax preparation. Moreover, they allow unlimited import integrations of data as well as API integrations, team members as well as AutoFiles.
They also have a staff dedicated for managing the account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Quickoboks Online
However, they did mention that the plan is custom-made for each user. Therefore, the cost will differ according to what you require for your business.
Fortunately, you don’t need to gamble your money just 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. This should be enough time to determine whether the service is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to know about TaxJar let’s take a break. To summarize, here are the advantages and disadvantages of the use of TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- It allows you to monitor 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 to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of 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 products and revenue, but it can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they have a Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Utilizing TaxJar can help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you’re in an area with complex tax regulations, this will surely help you wrap your head around it. TaxJar Quickoboks Online
If handling your taxes is simple If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you find the whole procedure easy to complete, you might be better to do it on your own.
FAQ TaxJar Quickoboks Online
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. The transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it to USUSD before TaxJar determines the tax.