Taxes are always one of the hardest things to do regardless of whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues aren’t easy, particularly when you’re full of things to be done. If you don’t have enough money to engage an accountant making it your own can be risky. If you overlook one thing and you don’t know it, you may have to redo things again!
Nearly everyone would prefer to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do ?
We can simplify our lives with tools such as TaxJar.
Here we’ll take a look at this popular life-saving device and how it can assist 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.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
For those who like to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Registration
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of your sales channels to ensure compliance with your sales taxes. It streamlines processes that require days to complete and finish within just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything organized and straightforward. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll want to check is that your accounting tax software is compatible with your sales channel. If you have multiple sales channels, you must maintain everything in line. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to display your key metrics in one place. This means that there is no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is to integrate TaxJar and the platform will handle the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using their AutoFile feature. In this review, we’ll look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing tax returns for income, the team will instruct you on how to handle the tax returns. It is up for you and your team to finish the tax returns on time. TaxJar will only guide you on what you should accomplish, but not manage 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 will be automated, from calculating sales taxes to recording and processing them. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting problems. Your orders from 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 all the information you require, including the list of transactions, reports and data.
The best part about this option is the fact that it allows you to update automatically every day. Not only can they help you know how much you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard can also allow users to view in detail the overall sales taxes in your business. Additionally, you can export your data in the form of a CSV file if you need it to aid in financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. This means that you don’t have to search for your documents whenever you’re in the event of a need. Even even if you already have an accountant, this feature can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll know better how much budget you have for other operating expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also for anything that has to do with sales tax. You can look through their webinars, guides, or blog posts for additional information. In addition their sales tax calculator should be useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. The company claims that it’s the best plan if you need help with filing requirements and reporting. It also includes taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a smaller company proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar but it comes with the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll 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 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 get access to their support via phone Access to APIs, phone support, and sophisticated CSV import. They also allow you to get 12 AutoFiles for free each year.
If you have a massive business, you might need to opt for an upgrade instead. It has all of the features that you require to help with your taxes. In addition, they offer unlimited data import integrations API integrationsfor team members, and AutoFiles.
They also have a staff dedicated in managing your accounts. However, they don’t disclose the amount that the Premium plan costs you. TaxJar Registration
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your business.
Luckily, you don’t have to risk your money to see if this platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to see if the platform is an excellent fit for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. To summarize we’ll go over the advantages and disadvantages of using TaxJar to run your business.
- 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 is possible to integrate it 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 valid for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you do, then you ought to try this.
It’s not just a way to aid in tracking the sales and profits of your business however, it will also help you meet your deadlines. It’s also an excellent option for accountants as they provide the Tax Advisor program. You can get tips and learn from their sessions about taxes through it.
Using TaxJar will help you save more time while keeping track of every deadline and requirement you have to fulfill. If you’re living in an area with complex tax regulations, this will certainly help you to get your head around the subject. TaxJar Registration
If handling your taxes is simple and straightforward, then TaxJar may be an unnecessary investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Registration
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every 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 will need to convert it into US$ before TaxJar determines your tax.