Taxes have always been one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Even more so if you do not have a degree in accounting or finance. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford the budget to employ an accountant, performing the task on yourself can be risky. If you overlook one thing it could mean you have to redo things again!
Nearly everyone would prefer to skipping this step. But since it’s required, we have no choice.
So , what can we do about it?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can help you. Although this is quite lengthy but you’ll be able to gauge whether TaxJar is exactly what you need right now.
Are you looking to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
If you prefer to read, let’s dive right in.
What exactly is TaxJar? TaxJar Ruby
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is neat and simple. Let’s explore the benefits and features of TaxJar.
Services and features
One of the most important things you’ll want to check is that your accounting tax platform seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar lets you display your critical metrics in one place. That way, there’s no need to collect data from different channels and then organize it on a single platform. All you have to do is to integrate TaxJar, then the system will do the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of the platforms that they can connect with:
TaxJar allows clients to file their sales taxes manually or through the AutoFile feature. In this review, we’ll take a look at both.
If you opt to do it manually, TaxJar will allow you to connect all of those sales tools. Once the time comes for filing income tax returns, the team will instruct you on managing them. But, it is up for you and your team to finish the tax returns on time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales in order to record and process it. But, it is possible to incur extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you require, including a list of your transactions, reports, and the data.
The best part about the feature you’ve chosen is it lets you to update automatically every day. Not only can they help you know how much you’ve collected, but they also help you keep track of when the next payments are due.
Their dashboard also allows users to view in detail the sales tax totals in your business. Additionally, you can export your data in CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all your sales channels. This means that you don’t have to scramble for your documents when you’re in a pinch. Even when you already have your accountant, this function can aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will help you plan your money more efficiently. You’ll be aware of the budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform but for anything that has to do with sales tax. You can check out their webinars, guides, or blog posts for additional info. In addition the sales tax calculator can be 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 set your budget. Certain platforms have amazing capabilities, but they’re often too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing tiers and what each of those choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the most effective plan if you need help with filing requirements and reporting. It comes with taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a smaller business proprietor, then this program should be ideal for you. It may not offer all of TaxJar’s features however, it does include all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration features.
If you’re looking for a bit more than just the standard features, then the Professional plan might be the right one for you. It starts at $99, however, it could go up if you add custom features.
What is the difference from the original plan?
In addition to having access to all of the Starter plan’s features, you also get access to their phone customer support, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for an upgrade instead. It includes all of the features needed to make your tax filing easier. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members and AutoFiles.
They also have a staff that is devoted to managing your account. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Ruby
However, they did mention that this plan is customized to each user. The cost of the plan will be different according to what you require to run your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is for you. If you’re still looking into different options, they offer a 30-day free trial. This should be enough time to determine whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar let’s take a breather. In order to sum up the whole thing, here are the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it aid in tracking your products and revenue however, it will assist you in meeting the deadlines you set. It’s also an excellent option for accountants as they provide a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your mind around it. TaxJar Ruby
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure easy to complete then you’re better in doing it all by yourself.
FAQ TaxJar Ruby
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transaction amounts are n US$. If you’re using a different currency, you’ll need to convert it to USdollars before TaxJar determines the tax.