Taxes have always been among the hardest things to do, whether you’re running a business or not. Even more so if you do not have any experience in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to engage an accountant performing the task on your own could be risky. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
What can we do about it?
We can always make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can benefit you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is what you need today.
Prefer video streaming 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, let’s get right into it.
What is TaxJar TaxJar Rates
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by owners of online businesses to make their business more organized and straightforward. Let’s look into their features and services.
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Features and services
Integration
One of the most important things you’ll want to check is that your accounting tax software seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical data in one location. That way, there’s no need to collect data from different channels and then organize it on a single platform. All you have to do is to integrate TaxJar then the system will take care of all the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they are able to integrate with:
Filing
TaxJar allows clients to submit their sales tax either manually or via their AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns, the team will instruct you on how to manage them. It is up to you and your staff to finish the tax returns in time. TaxJar is there to guide you on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales taxes to recording and processing it. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there, you and your team will have access to all the information you require, including a list of your transactions, reports and information.
The best part about this option is the fact that they allow you to update your account automatically each day. Not only can they help to know the amount you’ve earned however, they can also help you keep track of when the next payment is due.
Their dashboard also allows users to view in detail the total sales tax within your company. Additionally, you can export your data in CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational costs.
What’s more is that TaxJar provides training and tutorials not only for their platform , but also for anything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional details. In addition, their sales tax calculator is beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they can be too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes the tax on sales, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small-scale company manager, the plan will be perfect for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking to get that is more than the standard features Professional might be the right one for you. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the original plan?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
Premium
If you run a large enterprise, you may want to choose an upgrade instead. It comes with all the features you need to make your tax filing easier. In addition, they offer unlimited import integrations of data as well as API integrationsfor team members, and AutoFiles.
They also have a team who are devoted to managing your account. But, they don’t divulge how much the Premium plan costs you. TaxJar Rates
However, they did say that this plan is customized to each user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to gamble your money just to determine if this service is right 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 determine whether the service is a good fit for you.
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Pros and Pros and
Now that we’ve covered all you should be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of making use of TaxJar for your company.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides an online sales tax 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.
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything laid out TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If that sounds like what you’re doing, then ought to try this.
Not only can it help you track your products and revenue, but it can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they have the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
Utilizing TaxJar can help you reduce time and keep track of every deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will certainly help you to get your mind around it. TaxJar Rates
But if handling taxes is easy, then TaxJar could be a waste of investment. If you only have one or two channels of sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
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FAQ TaxJar Rates
What areas does TaxJar provide API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into US$ before TaxJar can calculate the tax.
