Taxes are always one of the most difficult tasks to complete, whether you’re running your own business or not. Even more so if you do not have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have enough money to hire an accountant, performing the task on your own can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
So what can we do ?
It is always possible to 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 help you. Even though this is an extensive read but you’ll be able to gauge whether TaxJar is the tool you require right now.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Sales Tax Amnesty
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of only a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services, and even medical institutions.
How can it help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. Let’s look into their features and services.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting system perfectly integrates with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important data in one location. That way, there’s no need to collect data in multiple channels and sort it into a single platform. All you have to do is connect TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of platforms that they can connect with:
TaxJar allows clients to make sales tax filings by hand or using TaxJar’s AutoFile feature. In this review, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect all of those sales tools. When the time is right for filing income tax returns, the team will instruct you on how to manage these. But, it is up to you and your staff to complete the process on time. TaxJar will only help you understand what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit all forms by hand. This feature will ensure that everything will be automated, from calculating sales tax to recording and processing them. There could be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to all the information you need, like a list of your transactions, reports, as well as the data.
The most appealing aspect of the feature you’ve chosen is it lets you to automatically update every day. Not only can they help to know the amount you’ve accumulated however, they can also help you determine when your next payments are due.
Their dashboard can also allow you to fully view the total sales tax within your company. Additionally, you can export your data to a CSV file if you need it to aid in accounting and financial planning processes or if your team needs it to run centralized reports.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. This means that you don’t have to scramble for your documents whenever you’re in the event of a need. Even when you already have your accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll be aware of the budget you have for other operational costs.
The best part is that TaxJar offers 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 details. Apart from that the sales tax calculator is helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. For this reason we’ll take a look at TaxJar’s pricing tiers and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. The company claims that it’s the best plan to help you in filing and reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small business owner, this plan will be perfect 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 email support chart. Additionally, you’ll have access to their integration features.
If you’re looking for something a bit more than just the basics and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the original plan?
Apart from 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 advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge company, you may need to go for premium plans instead. It includes all of the features that you require to make your tax filing easier. Additionally, they permit unlimited data import integrations API integrationsfor team users as well as AutoFiles.
They also have a staff who are devoted in managing your accounts. But, they don’t divulge how much the Premium plan will cost you. TaxJar Sales Tax Amnesty
However, they did mention that this plan is customized for every user. Therefore, the cost will differ depending on what you need to run your business.
It’s a good thing that you don’t have to gamble your money just to determine if this service is the right one for you. If you’re still looking into different options, they offer 30 days of free trial. This should give you enough time to determine whether the software is a good fit for you.
Pros and Cons
After we’ve gone over everything you should be aware of TaxJar let’s take a break. To sum it all up we’ll go over the pros and cons of making use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by 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 review local laws
The Final Verdict
With everything clearly laid out, TaxJar is an excellent platform for businesses with multiple sales channels and uses many platforms. If that sounds like what you’re doing, then you must try TaxJar.
Not only can it assist you in keeping track of the sales and profits of your business, but it can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they have the Tax Advisor program. There are tips to follow and gain knowledge from their workshops on taxes by using it.
Using TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to fulfill. If you’re in a place with complicated tax laws, this will certainly help you to get your head around it. TaxJar Sales Tax Amnesty
But if handling your taxes is simple and straightforward, then TaxJar could be a waste of expense. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure easy to complete, you might be better in doing it all by yourself.
FAQ TaxJar Sales Tax Amnesty
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can link your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it to US$ before TaxJar determines your tax.