Taxes are always one of the hardest things to do regardless of whether you’re running an enterprise or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. If you don’t have the budget to hire an accountant, performing the task on your own could be risky. If you miss one detail 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 and mandatory, there’s no other choice.
So what can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving device and how it can benefit you. Even though this is an extensive read, you should be able to assess whether TaxJar is what you need right now.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
For those who like to read, we’ll dive right into.
What exactly is TaxJar? TaxJar Reseller Permits
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. In addition, you can apply it in all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It simplifies the processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to make their business more neat and simple. Let’s take a look at the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to ensure you have a tax accounting software is compatible with your sales channel. If you’re selling through multiple channels, you must keep everything in place. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to display your most important metrics in one spot. This means that there is no requirement to collect data in multiple channels and sort it into one platform. All you need to do is to integrate TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they are able to integrate with:
Filing
TaxJar lets customers file their sales taxes manually or through the AutoFile feature. For our review we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on managing these. But, it is up to you and your team members to complete everything in time. TaxJar will only provide guidance on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out all forms by hand. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process it. There could be additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting woes. Your orders from your e-commerce channels can be combined into a single dashboard via this platform. From there you and your team can access everything you need, such as an inventory of your transactions, reports and data.
The best part about this feature is that it allows 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 keep track of when the next payments are due.
The dashboard allows you to fully view the sales tax totals within your company. You can also export the information as the form of a CSV file if you need it to aid in process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep the track of all the channels you sell through. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this function can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything related to sales tax. Check out their webinars, guides and blog for more info. In addition the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan starts at $19. They say it’s the most effective plan to help you 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 can access their AI tax recommendations.
If you’re a small-scale company proprietor, then this program will be perfect for you. It may not offer all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for that is more than the basics and options, then the Professional plan might be the right one for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the starter plan?
Apart from having access to each of Starter plan’s options, you also have access to their phone customer support Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
Premium
If you run a large company, you may need to go for premium plans instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members, and AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge how much the Premium plan costs you. TaxJar Reseller Permits
But they did state that this plan is customized for each user. So the costs will vary in line with what you require for your company.
Free Trial
It’s a good thing that you don’t have to risk your money to find out if the platform is right for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine whether the service is a good fit for you.
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Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a break. To sum it all up, here are the advantages and disadvantages of the use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms
- You can track several sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it assist you in keeping track of your revenue and products, but it can also help you meet your deadlines. It is also a great opportunity for accountants since they provide the Tax Advisor program. You can get tips and get knowledge from their seminars about taxes through it.
The use of TaxJar will help you get more done while keeping track of every deadline and requirement you have to meet. If you live in an area with complex tax regulations, this will surely help you wrap your mind around it. TaxJar Reseller Permits
But if handling taxes is easy and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. If you’re finding the entire procedure simple to follow, you might be better off doing it on your own.
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FAQ TaxJar Reseller Permits
Which areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one type 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 US$ prior to when TaxJar determines the tax.
