Taxes have always been one of the most difficult tasks to complete, whether you’re running your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re full of things to be done. If you don’t have enough money to hire an accountant, making it yourself can be dangerous. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to skip this step. But , as it’s a requirement, we have no choice.
So , what can we do about it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can benefit you. Although this is quite an extensive read but you’ll be able to determine if TaxJar is the tool you require in the present.
Are you looking video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, then let’s get right into it.
What is TaxJar TaxJar Refunds And Chargebacks
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
Services and features
One of the first things you’ll need to make sure is that your accounting tax platform seamlessly works well along with sales funnels. If you have multiple sales channels, you need to maintain everything in line. 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. So, there’s no need to gather data from different channels and sort it into one platform. All you have to do is to integrate TaxJar, then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using the AutoFile feature. For this review, we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to handle the tax returns. But, it is up to you and your team members to complete the process within the timeframe. TaxJar is there to help you understand what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated from calculating sales taxes through recording, and then processing them. However, there might be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. From there, you and your team will have access to everything you need, like an inventory of your transactions, reports and data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payment is due.
Their dashboard can also allow you to fully view the total sales tax for your business. It is also possible to export the information in the form of a CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all your sales channels. That means you won’t have to scramble for your documents when you need them in a pinch. Even when you already have your accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will help you plan your funds better. You’ll know exactly how much budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training, not just on their platform, but everything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more details. Additionally their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms provide amazing features, but they can be too expensive for businesses. This is why in this section we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan if you need help in filing and reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you have access to their AI tax advice.
If you’re a small company manager, the plan will be perfect for you. It may not offer all of TaxJar’s features but it comes with the essentials that you need.
You can also contact their support team with their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for that is more than the standard features Professional might be the right one for you. It starts at $99, but it can go higher by adding custom features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have their support via phone, API access, and advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you run a large enterprise, you may want to go for an upgrade instead. It includes all of the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
They also have a team that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. will cost you. TaxJar Refunds And Chargebacks
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ depending on what you need for your company.
Luckily, you don’t have to risk your money to find out if the platform is right for you. If you’re still looking into different options, they offer a 30-day free trial. This should give you enough time to gauge whether the software is the right choice for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help 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 can be integrated with other platforms
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses 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 aid in tracking your revenue and products however, it will also help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer the Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
The use of TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to meet. If you’re in a place with complicated tax regulations, this will definitely help you get your head around it. TaxJar Refunds And Chargebacks
However, if managing your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two channels for sales, TaxJar won’t be needed to track all of it. If you find the entire procedure easy to complete then you’re better in doing it all by yourself.
FAQ TaxJar Refunds And Chargebacks
Which areas does TaxJar offer API support?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in US$. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar will calculate your tax.