Taxes have always been one of the most difficult things to handle, whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford the funds to employ an accountant, doing it on yourself can be dangerous. If you make a mistake and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what can we do about it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving tool and explain how it can help you. Even though this is an extensive read it is possible to assess whether TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Resller
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all your sales channels to ensure compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to keep everything neat and simple. Let’s look into the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure you have a tax accounting software seamlessly works well with your sales channel. If you’re selling through multiple channels, you must ensure that everything is in order. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. So, there’s no need 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 the rest.
Apart from that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers make sales tax filings manually or through 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. Once the time comes for filing tax returns for income TaxJar will train you on managing them. However, it will be up for you and your team to finish the tax returns within the timeframe. TaxJar will only help you understand what you need to do , but not to handle 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 them. However, there might be additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to everything you require, including an inventory of your transactions, reports, and data.
The greatest benefit of this feature is that it allows you to update automatically every day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows users to view in detail the total sales tax within your company. It is also possible to export the data to a CSV file if you need it to aid in process of financial planning and accounting or if you require it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of the channels you sell through. It means you don’t need to hunt for your paperwork whenever you’re in the event of a need. Even even if you already have an accountant, this function will help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your funds better. You’ll be aware of the budget you have for other operational expenses.
What’s more is that TaxJar offers tutorials and training not only for their platform but all things connected to sales tax. Check out their webinars, guides, or blog posts for additional details. Apart from that, their sales tax calculator should be helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller company manager, the plan should be ideal for you. It might not include all the features of TaxJar, but it has the essentials that you need.
You can also contact their customer support via their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for that is more than the basic features and options, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the basic plan?
Apart from having access to all of the Starter plan’s features, you also get access to their phone customer support access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose premium plans instead. It comes with all the features you need to aid in your tax preparation. Moreover, they allow unlimited import integrations of data API integrations, team users and AutoFiles.
They also have a staff who are devoted for managing the account. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Resller
But they did state that the plan is custom-made for every user. So the costs will vary in line with what you require for your business.
Luckily, you don’t have to risk your money to find out if the platform is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to gauge if the platform is the right choice for you.
Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a break. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar for your company.
- There is a 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
- The company offers a 30-day trial for free.
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then ought to try this.
Not only can it aid in tracking your revenue and products It can help you meet the deadlines you set. It is also a great option for accountants as they provide tax Advisor program. You can find tips 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 obligation you have to fulfill. If you’re living in a region with a lot of tax regulations, this will surely help you wrap your mind around it. TaxJar Resller
But if handling taxes is easy, then TaxJar might not be a good expense. If you have only 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 and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Resller
What are the areas in which TaxJar offer API assistance?
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 facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to US$ prior to when TaxJar can calculate the tax.