Taxes are always one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have the budget to hire an accountant, making it your own could be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Almost everyone wants to skipping this step. But since it’s required and mandatory, there’s no other choice.
So what can we do ?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can benefit you. Even though this is a long read, you should be able to determine if TaxJar is exactly what you need in the present.
Are you looking to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Sales Tax Calcu
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. It is a solution for the entire life cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to keep everything organized and straightforward. Let’s explore their features and services.
Features and services
One of the most important things you’ll want to check is your tax-reporting system seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to keep everything in place. The final thing you would like is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one spot. So, there’s no need to gather information from multiple sources and sort it into one platform. All you need to do is to integrate 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 highlighting the platforms they are able to integrate with:
TaxJar allows clients to make sales tax filings by hand or using the AutoFile feature. In this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income The team will guide you on managing the tax returns. But, it is up to you and your team to complete everything within the timeframe. TaxJar is only there to guide you on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. This feature will ensure that everything is automated, from calculating sales taxes in order to record and process it. But, it is possible to incur extra fees if not included in the plan you select.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting woes. All orders made through your e-commerce channels can be put together into one dashboard using this platform. From there you and your staff can access everything you need, such as a list of your transactions, reports, and information.
The greatest benefit of this feature is that it lets you to update your account automatically each day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you determine when your next payments are due.
Their dashboard also allows you to fully view the sales tax totals within your company. It is also possible to export the data as the form of a CSV file if you need it in your financial planning and accounting 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. It means you don’t need to search for your documents when you need them in a pinch. Even when you already have your accounting firm, the feature will make them more efficient.
Additionally, knowing the figures 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 available for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also all things that has to do with sales tax. Check out their guides, webinars, and blog for more info. Additionally the 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 set your budget. Some platforms offer superb features, but they can be too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing tiers and what each of these options can offer you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with sales tax reporting, 4 free yearly AutoFiles, and an CSV import. With the starter plan, you have access to their AI tax recommendations.
If you’re a small-scale company proprietor, then this program will be ideal for you. It might not include all the features of TaxJar, but it has all the basics you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also have access to their integration tools.
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. The price starts at $99 however, it could go up by adding custom features.
What is the difference from the starter plan?
Apart from having access to every one of Starter plan’s options, you also have access to the support of their customer service via phone, API access, and advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive enterprise, you may want to choose the Premium plan instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited data import integrations, API integrationsfor team members and AutoFiles.
They also have a team dedicated in managing your accounts. But, they don’t divulge how much the Premium plan costs you. TaxJar Sales Tax Calcu
However, they did say that this plan is tailor-fit for each user. So the costs will vary depending on what you need for your company.
It’s a good thing that you don’t have to gamble your money just to determine if this service is for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to determine whether the service is a good fit for you.
Pros and Pros and
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To sum it all up Here are the pros and cons of making use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms.
- You can track several 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 is an excellent platform for businesses with numerous sales channels, and that utilizes plenty of platforms. If that’s what you do, then you ought to try this.
Not only will it assist you in keeping track of the sales and profits of your business It can also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer the Tax Advisor program. There are tips to follow and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar can help you reduce time and keep on top of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax regulations, this will certainly help you to get your head around the subject. TaxJar Sales Tax Calcu
However, if managing your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of all of it. In addition, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Sales Tax Calcu
Which 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 together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions are in US$. If you’re using a different currency, you’ll have to convert it to USUSD prior to when TaxJar determines the tax.