Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. Particularly if you don’t have a degree 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 the funds to engage an accountant making it your own can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
Almost everyone wants to skip this step. But , as it’s a requirement, we have no choice.
So , what can we do ?
It is always possible to make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can assist you. While this is lengthy, you should be able to determine if TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Reddit
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s take a look at their features and services.
Services and features
One of the first things you’ll want to check you have a tax accounting system perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to ensure that everything is in order. The most important thing is not to face a penalty due to missing a single minor point.
TaxJar allows you to show your key metrics in one place. That way, there’s no need to collect data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. In our review we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns The team will guide you on how to manage the tax returns. However, it will be up to you and your team to complete everything on time. TaxJar is there to provide guidance on what you need to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing it. But, it is possible to incur extra fees if not part of the plan you chose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your team can access everything you need, like the list of transactions, reports and information.
The best part about the feature you’ve chosen is it lets you to update your account automatically each day. Not only can they help you know how much you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the sales tax totals within your company. Additionally, you can export the information as the form of a CSV file if you need it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the channels you sell through. It means you don’t need to search for your documents when you’re in the event of a need. Even even if you already have an accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have available for other operational costs.
The best part is that TaxJar offers training and tutorials not only on their platform, but everything related to sales tax. You can check out their webinars, guides, as well as their blog to find more information. In addition, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They claim that it’s the most suitable plan for you to help you with filing requirements and reporting. It comes with the tax on sales, 4 autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small business manager, the plan should be ideal for you. It may not offer all the features of TaxJar, but it has all the basics you require.
You can also contact the support team via their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for that is more than the basic features Professional might be the right one for you. The price starts at $99 but it can go higher when you add additional features.
So how different is it from the basic plan?
Apart from having access to every one of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to choose an upgrade instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited integrations with data imports as well as API integrations, team members and AutoFiles.
They also have a staff that is devoted to managing your account. But, they don’t divulge how much the Premium plan costs you. TaxJar Reddit
But they did state that this plan is customized to each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to gamble your money just to determine if this service is the right one for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to gauge whether the software is a good fit for you.
Pros and Cons
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To sum it all up we’ll go over the pros and cons of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Support Service Team
- The dashboard is simple 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
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that’s what you do, then you ought to try this.
It’s not just a way to aid in tracking your products and revenue It can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and learn from their sessions regarding taxes via it.
Using TaxJar can allow you to get more done while keeping on top of each deadline or requirement you need to meet. If you’re living in a region with a lot of tax laws, this will certainly help you to get your head around it. TaxJar Reddit
But if handling your taxes is simple If it isn’t, then TaxJar might not be a good investment. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Reddit
Which areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar will calculate the tax.