Taxes have always been one of the most difficult things to handle, whether you’re running a business or not. More so if you don’t have any experience in finance or accounting. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. When you’re not able to afford the funds to hire an accountant, doing it on your own can be risky. 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 and mandatory, there’s no other choice.
What can we do ?
We can make our lives easier with tools such as TaxJar.
This article will take a look at this popular life-saving tool and how it can benefit you. Although this is quite a long read, you should be able to determine if TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Resale Certificate States
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It is a solution for your entire sales tax life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure compliance with sales taxes. It simplifies the processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to keep everything neat and simple. Let’s explore 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 software seamlessly works well along with sales funnels. If you’re selling through multiple channels, you must maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your key metrics in one place. This means that there is no requirement to collect data in multiple channels and then organize it on a single platform. All you need to do is integrate TaxJar, then the system will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. In our review we’ll look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on how to manage these. However, it will be up to you and your staff to complete everything in time. TaxJar is only there to help you understand what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. Through this feature, everything is automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to everything you need, like a list of your transactions, reports and information.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only will they let you keep track of how much you’ve collected however, they can also help you track when your following payment is due.
Their dashboard also allows users to view in detail the sales tax totals within your company. You can also export your data in CSV format. CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds better. You’ll know exactly how much budget you have available for other operational costs.
What’s more is that TaxJar provides training and tutorials not only on their platform, but everything related to sales tax. Check out their webinars, guides and blog for more information. Apart from that their sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It also includes sales tax reporting, 4 free yearly AutoFiles, and an CSV import. Even with the basic 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 may not have all the features of TaxJar however, it does include the essentials that you need.
You can also contact the support team via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get a bit more than just the basic features, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up if you add custom features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s options, you also have 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 own a huge enterprise, you may want to go for an upgrade instead. It comes with all the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
They also have a team that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan will cost you. TaxJar Resale Certificate States
However, they did mention that this plan is tailor-fit for every user. The cost of the plan will be different according to what you require to run your business.
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should be enough time to determine if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything 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 making use of TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features can help you 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 able to be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only valid for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses numerous platforms. If that’s what you’re doing, then you ought to try this.
Not only will it aid in tracking your revenue and products however, it will assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they have tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Using TaxJar will help you save more time while keeping the track of each deadline and requirement you have to meet. If you’re living in an area with complex tax regulations, this will definitely help you get your head around the subject. TaxJar Resale Certificate States
If handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you only have one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you find the whole procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Resale Certificate States
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transactions are in USdollars. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar will calculate your tax.