Taxes have always been among the most difficult things to handle regardless of whether you run your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. If you don’t have the budget to employ an accountant, doing it on your own can be dangerous. If you overlook one thing, you might have to redo things again!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
We can always simplify our lives with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can benefit you. Although this is quite a long read it is possible to determine if TaxJar is the tool you require today.
Prefer video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar TaxJar Ripoff
Founded in 2013, TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all your channels of sales to ensure compliance with your sales taxes. It streamlines processes that can take days to complete, and finish within only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by business owners who run online businesses to keep everything simple and organized. Let’s take a look at their features and services.
Services and features
One of the most important things you’ll need to make sure you have a tax accounting system seamlessly works well along with sales funnels. If you have multiple sales channels, you must ensure that everything is in order. The final thing you would like is to get a penalty for missing a single minor point.
TaxJar allows you to show your critical metrics in one place. This means that there is no need to gather data in multiple channels and then organize it on one platform. All you have to do is to integrate TaxJar then the system will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms they can integrate with:
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. For our review we’ll look at both.
If you decide to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns, the team will instruct you on how to manage the tax returns. However, it will be up to you and your staff to complete the process within the timeframe. TaxJar is only there to provide guidance on what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating sales tax to recording and processing it. However, there might be additional costs if the feature is you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there you and your staff can access everything you require, including an inventory of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that it allows you to update automatically every day. Not only will they let to know the amount you’ve accumulated however, they can also help you track when your following payments are due.
The dashboard allows you to fully view the sales tax totals within your company. You can also export the data to CSV format. CSV file if you need it for your accounting and financial planning processes or if you require it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. It means you don’t need to scramble for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but all things that has to do with sales tax. You can look through their webinars, guides as well as their blog to find more information. Additionally, their sales tax calculator can 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 can be too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. They say it’s the most effective plan to help you with filing requirements or reporting. It comes with the tax on sales, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you can access their AI tax recommendations.
If you’re a smaller business proprietor, then this program should be ideal for you. It might not include all the features of TaxJar, but it has all the basics you require.
You can also contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get different from the basic features and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it by adding custom features.
So how different is it from the original plan?
In addition to accessing every one of Starter plan’s features, you also get access to 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.
If you own a huge business, you might need to go for the Premium plan instead. It comes with all the features needed to aid in your tax preparation. Additionally, they permit unlimited data import integrations API integrations, team users and AutoFiles.
They also have a staff who are devoted in managing your accounts. They don’t reveal how much the Premium plan is going to cost. TaxJar Ripoff
However, they did say that the plan is custom-made for every user. The cost of the plan will be different according to 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 30 days of free trial. It should give you enough time to determine whether the service is the right choice for you.
Pros and Cons
We’ve covered everything you must know about TaxJar let’s take a breather. To summarize we’ll go over the pros and cons of using TaxJar to run your business.
- Has 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.
- Has support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you must try TaxJar.
Not only can it help you track the sales and profits of your business however, it will help you meet your deadlines. This is also an excellent platform for an accountant since they have tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
The use of TaxJar will help you reduce time and keep track of every deadline and requirement you have to meet. If you’re in a place with complicated tax laws, this will definitely help you get your mind around it. TaxJar Ripoff
However, if managing your taxes is simple If it isn’t, then TaxJar might not be a good expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track everything. In addition, if you’re finding the entire procedure easy to complete then you’re better to do it by yourself.
FAQ TaxJar Ripoff
What areas does TaxJar provide API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I connect Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All of the transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to US$ prior to when TaxJar can calculate the tax.