Taxes are always one of the most difficult tasks to complete regardless of whether you run your own business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the funds to hire an accountant, making it yourself can be dangerous. If you miss one detail 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 is the best way to deal with it?
It is always possible to make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can help you. Even though this is lengthy but you’ll be able to gauge whether TaxJar is what you need today.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Review
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is extensively used by online business owners to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting system seamlessly works well with your sales channel. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to be penalized for missing a single minor point.
TaxJar lets you display your most important metrics in one spot. That way, there’s no requirement to collect data in multiple channels and sort it into a single platform. All you need to do is to integrate TaxJar, it will take care of 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 are able to integrate with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. For the purpose of this article, we’ll dig at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all of your sales platforms. When it comes time to filing income tax returns, the team will instruct you on how to handle these. But, it is up for you and your team members to complete everything in time. TaxJar is there to provide guidance on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales tax through recording, and then processing it. However, there might be additional charges if they are not included in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to all the information you need, like a list of your transactions, reports, and the data.
The most appealing aspect of this feature is that it allows you to update automatically every day. They not only let you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
The dashboard allows you to fully view the overall sales taxes in your business. You can also export the data as CSV format. CSV file in case you require it for your accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep on top of all the channels you sell through. This means that you don’t have to search for your documents when you need them in the event of a need. Even when you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your funds more effectively. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar offers tutorials and training, not just on their platform, but all things connected to sales tax. You can look through their webinars, guides or blog posts for additional info. In addition the sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements or reporting. It comes with the tax on sales, four autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small business manager, the plan will be ideal for you. It may not have all the features of TaxJar however, it does include the basic features you require.
Additionally, you can contact their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for different from the standard features Professional might be the right one for you. The price starts at $99 but it can go higher by adding custom features.
What is the difference from the basic plan?
In addition to having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large enterprise, you may want to choose the Premium plan instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of members and AutoFiles.
They also have a staff that is devoted for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Review
However, they did say that this plan is tailor-fit to each user. So the costs will vary depending on what you need to run your business.
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 looking into different options, they offer a 30-day free trial. It should give you enough time to gauge whether the service is the right choice for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar Let’s relax. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is possible to integrate it with other platforms.
- Allows you to track 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.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you do, then you must try TaxJar.
Not only can it aid in tracking your products and revenue It can assist you in meeting your deadlines. This is also an excellent platform for an accountant since they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar will help you get more done while keeping the track of each deadline and requirement you have to fulfill. If you live in a region with a lot of tax laws, this will certainly help you to get your mind around it. TaxJar Review
If handling taxes is easy If it isn’t, then TaxJar might not be a good expense. If you have only one or two sales channels, TaxJar won’t be needed to track all of it. Moreover, if you’re finding the entire procedure easy to complete, you might be better off doing it on your own.
FAQ TaxJar Review
What areas does TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in US$. If you’re using another currency, you’ll have to convert it into USdollars prior to when TaxJar will calculate your tax.