Taxes have always been among the hardest things to do regardless of whether you’re running a business or not. More so if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, especially when you’re filled with tasks to complete. When you’re not able to afford enough money to engage an accountant performing the task on your own can be risky. If you make a mistake, you might have to redo things again!
Most people want to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
We can simplify our lives by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can assist you. Even though this is an extensive read, you should be able to determine if TaxJar is what you need today.
Prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Redbubble
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for your entire sales tax life cycle. Additionally, you can use it across all of your sales channels to ensure compliance with your sales taxes. It simplifies the processes that require days to complete and is completed in just a few only a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything simple and organized. Let’s explore the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check is that your accounting tax system perfectly integrates along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. So, there’s no need to gather information from multiple sources and sort it into one platform. All you need to do is integrate TaxJar, and the platform will take care of all the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers file their sales taxes either manually or via TaxJar’s AutoFile feature. In the purpose of this article, we’ll dig at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When it comes time to filing income tax returns TaxJar will train you on how to manage these. It is up for you and your team members to complete everything within the timeframe. TaxJar is there to guide you on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes to recording and processing them. There could be additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as an inventory of your transactions, reports, as well as the data.
The best part about this option is the fact that they allow you to update automatically every day. Not only will they let you keep track of how much you’ve accumulated, but they also help you determine when your next payment is due.
Their dashboard also allows you to see the total sales tax in your business. Additionally, you can export your data to the form of a CSV file in case you require it for your accounting and financial planning processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the sales avenues you use. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll know better how much budget you have for other operational expenses.
What’s more is that TaxJar offers training and tutorials not only for their platform , but also all things related to sales tax. You can check out their guides, webinars, as well as their blog to find more details. Additionally the sales tax calculator should 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 set 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 structures and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the best plan for those who need assistance with filing requirements or reporting. It also includes the tax on sales, four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you will be able to access their AI tax advice.
If you’re a small-scale company owner, this plan will be ideal for you. It might not include all the features of TaxJar however, it does include the essentials that you need.
Additionally, you can contact the support team via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking to get different from the basics and options, then the Professional plan could be the one 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 advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to go for the Premium plan instead. It comes with all the features that you require to help with your taxes. In addition, they offer unlimited import integrations of data, API integrationsfor team users, and AutoFiles.
There is also a team that is devoted to managing your account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Redbubble
However, they did mention that the plan is custom-made to each user. So the costs will vary depending on what you need for your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to see whether the software is the right choice for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers an online 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.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only applicable to USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with multiple sales channels and uses numerous platforms. If that’s what you’re doing, then must try TaxJar.
It’s not just a way to assist you in keeping track of your revenue and products, but it can assist you in meeting your deadlines. It is also a great platform for an accountant since they offer a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you save more time while keeping track of every deadline and requirement you have to meet. If you live in an area with complex tax regulations, this will definitely help you get your head around the subject. TaxJar Redbubble
But if handling your taxes is straightforward, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. If you find the whole procedure easy to complete, you might be better off doing it by yourself.
FAQ TaxJar Redbubble
Which areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can link your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar will calculate your tax.