Taxes are always one of the most difficult things to handle, whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. When you’re not able to afford enough money to hire an accountant, doing it on your own can be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can always make life easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can benefit you. While this is lengthy it is possible to gauge whether TaxJar is the tool you require right now.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, then let’s dive right in.
What is TaxJar? TaxJar Saas
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It is a solution for your entire sales tax life cycle. In addition, you can apply it across all the sales channels you use to make sure you’re in compliance with your sales taxes. It makes the process simpler that could require days to complete and finish within just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is widely used by business owners who run online businesses to ensure that everything is organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. So, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you need to do is connect TaxJar, then the system will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payment processing. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings by hand or using their AutoFile feature. In the purpose of this article, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for filing income tax returns The team will guide you on managing them. But, it is up for you and your team to complete the process on time. TaxJar will only provide guidance on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard via this platform. From there, you and your team can access everything you require, including a list of your transactions, reports, as well as the data.
The most appealing aspect of this option is the fact that they allow you to update automatically every day. They not only let you know how much you’ve collected, but they also help you track when your following payment is due.
The dashboard allows you to see the total sales tax for your business. You can also export the data to CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if your team needs it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep track of all of your sales channels. This means that you don’t have to search for your documents when you’re in the event of a need. Even if you already have your accountant, this function can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have to cover other operating costs.
But what’s even better is that TaxJar provides training and tutorials, not just on their platform, but all things that has to do with sales tax. You can check out their guides, webinars, or blog posts for additional details. In addition, their sales tax calculator should be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the most suitable plan for you to help you in filing and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and the option of a CSV import. Even with the starter plan, you have access to their AI tax advice.
If you’re a small-scale company proprietor, then this program will be ideal for you. It may not have all the features offered by TaxJar, but it has the essentials that you need.
You can also contact their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking for something a bit more than just the basic features, then the Professional plan may be the best option for you. It’s priced at $99 however, it could go up when you add additional features.
What is the difference from the basic plan?
Apart from having access to each of Starter plan’s features, you also have their phone customer support access to APIs, as well as the ability to do advanced CSV import. You can also have 12 free AutoFiles each year.
If you own a huge business, you might need to go for the Premium plan instead. It comes with all the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, Integrations with APIs, teams of users as well as AutoFiles.
They also have a staff dedicated to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Saas
However, they did say that this plan is customized to each user. The cost of the plan will be different according to what you require for your company.
Fortunately, you don’t need to gamble your money just to determine if this service is for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to gauge whether the software is the right choice for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar let’s take a breather. To summarize Here are the advantages and disadvantages of using TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- You can track several 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 valid for USA customers.
- Needs accountants and owners to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then you should try this.
Not only can it help you track your products and revenue however, it will assist you in meeting the deadlines you set. It is also a great platform for an accountant since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you get more done while keeping on top of each deadline and requirement you have to meet. If you’re living in a place with complicated tax laws, this will definitely help you get your head around it. TaxJar Saas
If handling your taxes is simple, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Saas
What areas does TaxJar offer API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into US$ before TaxJar will calculate your tax.