Taxes are always one of the most difficult tasks to complete regardless of whether you run a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford the budget to engage an accountant performing the task on yourself can be dangerous. If you make a mistake it could mean you have to redo things again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
What is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and how it can assist you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need today.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
But for those who prefer to read, let’s dive right in.
What is TaxJar TaxJar Sales Report
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to ensure compliance with sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to ensure that everything is neat and simple. Let’s look into their features and services.
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Services and features
Integration
One of the most important things you’ll need to make sure is your tax-reporting system is compatible in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to get a penalty for missing a single minor point.
TaxJar allows you to show your critical metrics in one spot. So, there’s no need to gather data in multiple channels and organize it into a single platform. All you have to do is integrate TaxJar, then the system will take care of the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they can integrate with:
Filing
TaxJar lets customers make sales tax filings either manually or via the AutoFile feature. In our review we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect all of your sales platforms. When the time is right for filing income tax returns, the team will instruct you on managing these. But, it is up to you and your team members to complete the process on time. TaxJar is there to guide you 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. With this feature, everything will be automated, from calculating sales tax to recording and processing them. There could be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as the list of transactions, reports, and data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. Not only will they let you keep track of how much you’ve earned and how much you’ve earned, but they also let you track when your following payment is due.
Their dashboard can also allow you to see the overall sales taxes in your business. Additionally, you can export your data in CSV format. CSV file, if you want to use it for your process of financial planning and accounting or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping on top of all your sales channels. It means you don’t need to hunt for your paperwork when you’re when you’re in a pinch. Even even if you already have an accountant, this function will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform but everything that has to do with sales tax. Check out their webinars, guides or blog posts for additional information. In addition, their sales tax calculator can be useful if you’re planning to do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to establish your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing structures and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the best plan to help you with filing requirements and reporting. It comes with sales tax reporting, four autofiles for free each year, and an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small company proprietor, then this program will be ideal for you. It may not have all the features of TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration capabilities.
Professional
If you’re looking to get a bit more than just the standard features and options, then the Professional plan could be the one for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the original plan?
In addition to having access to each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you have a massive business, you might need to opt for the Premium plan instead. It comes with all the features you need to help with your taxes. Moreover, they allow unlimited data import integrations API integrationsfor team members as well as AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose how much the Premium plan is going to cost. TaxJar Sales Report
However, they did say that the plan is custom-made for every user. Therefore, the cost will differ in line with what you require for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is the right one for you. If you’re still considering various options, they provide a 30-day free trial. This should give you enough time to determine whether the software is an excellent fit for you.
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Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a break. To summarize, here are the pros and cons of the use of TaxJar for your company.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Has support service team
- The dashboard is simple 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
Cons
- 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 laid down, TaxJar can be a great platform companies that have many sales channels and utilizes many platforms. If this sounds like the way you do, then you should try this.
Not only will it help you track your products and revenue It can assist you in meeting your deadlines. It is also a great opportunity for accountants since they provide the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Using TaxJar can help you reduce time and keep track of every deadline and requirement you have to fulfill. If you’re in a region with a lot of tax regulations, this will surely help you wrap your mind around it. TaxJar Sales Report
However, if managing your taxes is simple, then TaxJar could be a waste of investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure easy to complete then you’re better in doing it all on your own.
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FAQ TaxJar Sales Report
What areas does TaxJar offer 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 link your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. The transactions are in USdollars. If you’re using another currency, you’ll need to convert it to USUSD prior to when TaxJar determines your tax.
