Taxes have always been one of the most difficult tasks to complete regardless of whether you run your own business or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, particularly when you’re packed with things to do. In the event that you do not have the budget to engage an accountant doing it on your own could be dangerous. If you miss one detail and you don’t know it, you may need to repeat the process!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Even though this is lengthy it is possible to determine if TaxJar is exactly what you need right now.
Are you looking to watch videos instead? 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 we’ll dive right into.
What is TaxJar TaxJar Refund
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s take a look at the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to make sure you have a tax accounting platform seamlessly works well along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar lets you display your key metrics in one spot. That way, there’s no need to gather data in multiple channels and sort it into one platform. All you need to do is connect TaxJar, it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers submit their sales tax either manually or via the AutoFile feature. For our review we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all the sales channels you use. When the time is right for the filing of income tax returns, the team will instruct you on managing them. But, it is up for you and your staff to complete the process in time. TaxJar is there to help you understand what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out the forms in a manual manner. Through this feature, everything is automated, from calculating sales taxes in order to record and process them. However, there might be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be put together into one dashboard using this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports, as well as data.
The best part about this option is the fact that it lets you to update your account automatically each day. Not only will they let you know how much you’ve collected however, they can also help you track when your following payments are due.
Their dashboard also allows you to see the sales tax totals for your business. Additionally, you can export the information in CSV format. CSV file if you need it to aid in process of financial planning and accounting or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep the track of all your sales channels. This means that you don’t have to hunt for your paperwork when you need them in a pinch. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds better. You’ll know better how much budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just on their platform, but all things that has to do with sales tax. You can look through their webinars, guides or blog posts for additional info. In addition, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing structures and the features that each of these plans can offer. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help in filing and reporting. It also includes sales tax reporting, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small business manager, the plan will be ideal for you. It may not offer all the features offered by TaxJar but it comes with 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 a bit more than just the basics Professional might be the right one for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference from the original plan?
In addition to accessing every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge company, you may need to choose an upgrade instead. It has all of the features you need to help with your taxes. Moreover, they allow unlimited integrations with data imports API integrations, team users and AutoFiles.
There is also a team that is devoted to managing your account. They don’t reveal how much the Premium plan is going to cost. TaxJar Refund
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ according to what you require for your company.
Fortunately, you don’t need to bet your life on it to see if this platform is the right one for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to determine if the platform is the right choice for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of making use of TaxJar for your business.
- There is the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid down, TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If that’s what you’re doing, then you must try TaxJar.
Not only will it help you track your products and revenue, but it can help you meet your deadlines. It’s also an excellent opportunity for accountants since they have tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you’re in a place with complicated tax laws, this will definitely help you get your head around it. TaxJar Refund
However, if managing taxes is easy, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar Refund
What are the areas in which TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transactions are in USdollars. If you’re using another currency, you’ll have to convert it into US$ prior to when TaxJar can calculate your tax.