Taxes are always one of the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the funds to hire an accountant, doing it on yourself can be dangerous. If you miss one detail, you might have to redo things again!
Most people want to avoid this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this life-saving tool and how it can benefit you. While this is a long read it is possible to gauge whether TaxJar is what you need in the present.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Rate Lookup Via Url
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. It’s a solution for the entire life cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax system seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to maintain everything in line. The most important thing is not to face a penalty due to overlooking just one minor detail.
TaxJar lets you display your most important data in one location. That way, there’s no requirement to collect data from different channels and sort it into one platform. All you need to do is integrate TaxJar and the platform will handle all the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
TaxJar allows customers to make sales tax filings either manually or via the AutoFile feature. For this review, we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns, the team will instruct you on how to handle the tax returns. But, it is up to you and your staff to complete the process within the timeframe. TaxJar is there to guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. From there you and your team will have access to everything you need, like the list of transactions, reports and the data.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically 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 determine when your next payment is due.
The dashboard allows you to see the total sales tax in your business. It is also possible to export the information in CSV format. CSV file, if you want to use it for your accounting and financial planning processes or if your team needs it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to search for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for the sales tax you pay in advance will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operational expenses.
What’s more is that TaxJar offers tutorials and training and tutorials, not just for their platform , but also all things connected to sales tax. You can check out their webinars, guides as well as their blog to find more info. Apart from that, their 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 determine your budget. Certain platforms have amazing features, but they can be too costly for your business. For this reason we’ll take a look at TaxJar’s pricing structures and what each of those plans can offer. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you for those who need assistance in filing and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a smaller company owner, this plan will be perfect for you. It may not offer all the features of TaxJar but it comes with the basic features you require.
Additionally, you can contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for something that is more than the standard features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it when you add additional features.
So how different is it from the starter plan?
In addition to having access to each 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 get 12 AutoFiles for free each year.
If you own a huge business, you might need to choose the Premium plan 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 users, and AutoFiles.
They also have a staff who are devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Rate Lookup Via Url
However, they did mention that this plan is customized for each user. The cost of the plan will be different in line with what you require for your company.
Fortunately, you don’t need to risk your money to see if this 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 if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of making use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms
- Allows you to track multiple 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 applicable for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only will it aid in tracking your revenue and products, but it can help you meet the deadlines you set. It is also a great option for accountants as they provide tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you get more done while keeping on top of each deadline and obligation you have to fulfill. If you live in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar Rate Lookup Via Url
But if handling taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. If you’re finding the entire process easy to do, you might be better to do it by yourself.
FAQ TaxJar Rate Lookup Via Url
What areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as 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 with TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you’ll need to convert it into USUSD prior to when TaxJar will calculate the tax.