Taxes have always been one of the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have a background in accounting or finance. Tax-related work aren’t easy, particularly when you’re packed with things to do. If you don’t have enough money to hire an accountant, doing it on your own can be risky. If you miss one detail, you might need to repeat the process!
Almost everyone wants to skipping this step. But , as it’s a requirement to be done, we can’t choose not to.
What can we do ?
We can always make life easier by using tools like TaxJar.
This article will take a look at this popular life-saving tool and how it can help you. While this is lengthy it is possible to assess whether TaxJar is what you need right now.
Prefer watching videos rather than watch them? 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, let’s dive right in.
What is TaxJar? TaxJar Review Amazon
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it in all of your channels of sales to ensure that you are in compliance with sales taxes. It streamlines processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to keep everything organized and straightforward. Let’s look into the benefits and features of TaxJar.
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Services and features
Integration
One of the first things you’ll need to make sure you have a tax accounting system seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to maintain everything in line. The most important thing is not to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. This means that there is no need to gather data from different channels and then organize it on a single platform. All you need to do is connect TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows clients to submit their sales tax by hand or using TaxJar’s AutoFile feature. In our review we’ll look into both.
If you choose to go it alone, TaxJar will allow you to connect all of your sales platforms. Once the time comes for the filing of income tax returns TaxJar will train you on how to manage the tax returns. However, it will be up for you and your team to finish the tax returns in time. TaxJar is only there to provide guidance on what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes to recording and processing it. However, there might be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff will have access to everything you need, like an inventory of your transactions, reports, as well as the data.
The greatest benefit of this option is the fact that it lets you to automatically update every day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows users to view in detail the overall sales taxes within your company. It is also possible to export the data in a CSV file, if you want to use it in your accounting and financial planning processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to scramble for your documents when you’re in the event of a need. Even even if you already have an accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have to cover other operational expenses.
What’s more is that TaxJar offers training and tutorials and tutorials, not just on their platform, but all things that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more information. In addition the sales tax calculator is useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing tiers and the features that each of these options can offer you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan costs $19. They claim that it’s the most effective plan if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as four free yearly AutoFiles, and a CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small company owner, this plan should be ideal for you. It may not have all the features offered by TaxJar, but it has the essentials that you need.
Additionally, you can contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking to get different from the basics and options, then the Professional plan may be the best option for you. It’s priced at $99 but it can go higher by adding custom features.
So how different is it from the starter plan?
Apart from having access to every one of Starter plan’s features, you also have the support of their customer service via phone Access to APIs, phone support, and advanced CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you own a huge company, you may need to go for the Premium plan instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrationsfor team users as well as AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge how much the Premium plan is going to cost. TaxJar Review Amazon
But they did state that this plan is customized for every user. So the costs will vary in line with what you require to run your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is right for you. If you’re still considering different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To summarize, here are the advantages and disadvantages of making use of TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses many platforms. If that sounds like what you do, then you ought to try this.
Not only will it help you track your revenue and products however, it will help you meet the deadlines you set. It is also a great option for accountants as 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 the track of each deadline or requirement you need to meet. If you live in a place with complicated tax laws, this can certainly help you to get your mind around it. TaxJar Review Amazon
But if handling your taxes is simple, 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 everything. Moreover, if you’re finding the entire procedure simple to follow then you’re better in doing it all by yourself.
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FAQ TaxJar Review Amazon
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to make it easier to monitor and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transactions are in US$. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar can calculate your tax.
