Taxes have always been among the most difficult things to handle, whether you’re running an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related work aren’t easy, particularly when you’re full of things to be done. When you’re not able to afford the budget to hire an accountant, performing the task on your own can be dangerous. If you overlook one thing and you don’t know it, you may have to redo things again!
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 ?
It is always possible to simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can help you. While this is a long read, you should be able to assess whether TaxJar is exactly what you need right now.
Are you looking watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
But for those who prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Reviews
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with sales tax requirements. It makes the process simpler that could require days to complete and can be completed in a matter of 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.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to make their business more simple and organized. Let’s explore their features and services.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting system is compatible along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one place. That way, there’s no requirement to collect data from different channels and then organize it on one platform. All you need to do is connect TaxJar then the system will do the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows customers to submit their sales tax either manually or via the AutoFile feature. For this review, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on how to handle them. But, it is up for you and your staff to complete everything on time. TaxJar is only there to help you understand what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. Through this feature, everything is automated, from calculating taxes on sales to recording and processing them. There could be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to assist you with your accounting problems. The orders you place through your online channels can be compiled into one dashboard using this platform. From there, you and your team can access everything you need, like an inventory of your transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to update automatically every day. They not only let you keep track of how much you’ve collected and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the overall sales taxes within your company. It is also possible to export the data to a CSV file in case you require it in your accounting and financial planning processes or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all the sales avenues you use. It means you don’t need to scramble for your documents when you’re in the event of a need. Even if you already have your accountant, this feature can make them more efficient.
Furthermore, knowing the estimated amount for the sales tax you pay in advance will allow you to allocate your funds better. You’ll be aware of the budget you have for other operating costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also everything connected to sales tax. You can check out their webinars, guides, as well as their blog to find more info. In addition, their sales tax calculator can be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for your business. This is why in this section we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan is priced at $19. They claim that it’s the best plan to help you in filing and reporting. It comes with the tax on sales, 4 autofiles for free each year, and the option of a CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small business proprietor, then this program should be perfect for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
In addition, you can reach the support team via their email support chart. Additionally, you’ll have access to their integration tools.
If you’re looking to get different from the standard features Professional could be the one for you. The price starts at $99 but you can increase it by adding custom features.
What is the difference from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to choose premium plans instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data API integrationsfor team members as well as AutoFiles.
There is also a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Reviews
But they did state that the plan is custom-made for every user. The cost of the plan will be different depending on what you need for your company.
Luckily, you don’t have to risk your money to find out if the platform is for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To summarize, here are the pros and cons of using TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms
- You can track several 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 valid for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it help you track your revenue and products, but it can assist you in meeting your deadlines. This is also an excellent option for accountants as they offer the Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar can help you reduce time and keep the track of each deadline or requirement you need to fulfill. If you’re in an area with complex tax regulations, this will definitely help you get your head around it. TaxJar Reviews
However, if managing taxes is easy, then TaxJar could be a waste of investment. If you have only one or two channels for sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire process easy to do then you’re better in doing it all by yourself.
FAQ TaxJar Reviews
What are the areas in which TaxJar provide API assistance?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot 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.