Taxes are always one of the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re full of things to be done. When you’re not able to afford enough money to employ an accountant, performing the task on yourself can be risky. If you miss one detail and you don’t know it, you may 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.
So what can we do ?
We can always make life easier by using tools like TaxJar.
We’ll look at this popular life-saving device and how it can benefit you. While this is an extensive read it is possible to assess whether TaxJar is exactly what you need in the present.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar TaxJar Reviews Squarespace
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 the entire life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and is completed in just a few minutes.
TaxJar has been utilized 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 owners of online businesses to ensure that everything is organized and straightforward. Let’s look into the features and services offered by TaxJar.
Services and features
One of the first things you’ll want to check is your tax-reporting system perfectly integrates in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The most important thing is not to be penalized for missing a single minor point.
TaxJar allows you to display your most important metrics in one place. So, there’s no need to collect information from multiple sources and then organize it on one platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect those sales tools. When it comes time to the filing of income tax returns The team will guide you on how to handle the tax returns. It is up to you and your team to complete everything in time. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out all forms by hand. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process it. There could be additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be put together into a single dashboard through this platform. From there you and your staff can access everything you require, including the list of transactions, reports, and the data.
The greatest benefit of the feature you’ve chosen is they allow you to update your account automatically each day. They not only let you know how much you’ve earned and how much you’ve earned, but they also let you determine when your next payment is due.
Their dashboard also allows you to fully view the sales tax totals for your business. It is also possible to export your data to a CSV file if you need it in your financial planning and accounting processes or if your team needs it for central reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents when you need them in the event of a need. Even if you already have your accountant, this feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operational expenses.
The best part is that TaxJar offers training and tutorials not only for their platform , but also for anything connected to sales tax. Check out their webinars, guides, as well as their blog to find more details. Additionally, their sales tax calculator can be beneficial when you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. For this reason, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan is priced at $19. They say it’s the best plan for those who need assistance with filing requirements and reporting. It also includes taxes on sales and sales as well as 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a small business owner, this plan will be ideal for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
In addition, you can reach their support team with their support chart for email. You’ll also be able to use their integration capabilities.
If you’re looking for something that is more than the basics Professional might be the right one for you. It starts at $99, however, it could go up by adding custom features.
How different is it from the original plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and advanced CSV import. You can also have 12 free AutoFiles each year.
If you have a massive enterprise, you may want to opt for an upgrade instead. It includes all of the features that you require to aid in your tax preparation. In addition, they offer unlimited integrations with data imports as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a staff who are devoted to managing your account. However, they don’t disclose how much the Premium plan costs you. TaxJar Reviews Squarespace
However, they did mention that the plan is custom-made to each user. The cost of the plan will be different according to what you require for your company.
Luckily, you don’t have to bet your life on it to find out if the platform is right 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 see if the platform is an excellent fit for you.
Pros and Cons
We’ve covered everything you should know about TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides 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 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
- Some countries won’t have access to the API feature
- Only applicable to USA customers
- Owners and accountants should review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies with many sales channels and utilizes plenty of platforms. If that’s what you do, then you must try TaxJar.
Not only can it aid in tracking your products and revenue however, it will assist you in meeting the deadlines you set. This is also an excellent platform for an accountant since they provide tax Advisor program. There are tips to follow and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can help you save more time while keeping track of every deadline and requirement you have to meet. If you’re in an area with complex tax laws, this can surely help you wrap your mind around it. TaxJar Reviews Squarespace
If handling your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire procedure easy to complete then you’re better to do it on your own.
FAQ TaxJar Reviews Squarespace
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it into USdollars before TaxJar determines the tax.