Taxes have always been among the most difficult tasks to complete regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. In the event that you do not have the budget to employ an accountant, doing it on your own could be risky. If you make a mistake and you don’t know it, you may have to redo things again!
Most people want to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do ?
It is always possible to simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving device and how it can help you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, then let’s get right into it.
What is TaxJar TaxJar Sales Tax Filing
The company was founded in 2013 TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all the sales channels you use to ensure that you are in compliance with sales taxes. It makes the process simpler that could take days to complete and can be completed in a matter of minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to keep everything neat and simple. Let’s take a look at 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 in conjunction with the sales channels you use. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to display your key metrics in one spot. That way, there’s no requirement to collect information from multiple sources and organize it into a single platform. All you need to do is integrate TaxJar then the system will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of platforms they can integrate with:
TaxJar allows customers to make sales tax filings either manually or via TaxJar’s AutoFile feature. For this review, we’ll look at both.
If you decide to do it manually, TaxJar will allow you to connect all of the sales channels you use. When the time is right for filing income tax returns TaxJar will train you on how to manage these. It is up for you and your team members to finish the tax returns on time. TaxJar will only provide guidance on what you need to accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. This feature will ensure that everything is automated, from calculating sales taxes to recording and processing it. However, there might be additional costs if the feature is not part of the plan you select.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be compiled into a single dashboard via this platform. Once you’re on the platform, you and your team can access everything you require, including an inventory of your transactions, reports, and data.
The best part about the feature you’ve chosen is it allows you to automatically update every day. Not only can they help to know the amount you’ve earned, but they also help you track when your following payment is due.
Their dashboard can also allow you to see the total sales tax in your business. You can also export the information to a CSV file in case you require it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even when you already have your accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your money more efficiently. You’ll know exactly how much budget you have to cover other operating expenses.
The best part is that TaxJar provides training and tutorials, not just on their platform, but all things that has to do with sales tax. You can look through their webinars, guides, and blog for more details. In addition the sales tax calculator is useful if you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms offer superb features, but they’re sometimes too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements or reporting. It includes the tax on sales, four annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small business proprietor, then this program will be ideal for you. It may not have all of TaxJar’s features 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 features.
If you’re looking for a bit more than just the standard features Professional may be the best option for you. The price starts at $99 but it can go higher by adding custom features.
So how different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you own a huge company, you may need to go for an upgrade instead. It has all of the features needed to make your tax filing easier. Additionally, they permit unlimited integrations with data imports as well as Integrations with APIs, teams of members, and AutoFiles.
They also have a team who are devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Sales Tax Filing
However, they did say that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your company.
Fortunately, you don’t need to bet your life on it to find out if the platform is right for you. If you’re still looking into other options, they have a 30-day free trial. It should give you enough time to gauge whether the software is a good fit for you.
Pros and Cons
Now that we’ve covered all you need to be aware of TaxJar let’s take a breather. To summarize, here are the advantages and disadvantages of making use of TaxJar for your company.
- Has the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Offers an online sales tax 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 for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only applicable to USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then ought to try this.
Not only will it aid in tracking your products and revenue, but it can also help you meet the deadlines you set. It is also a great option for accountants as they have the Tax Advisor program. You can find tips and learn from their sessions on taxes by using it.
Utilizing TaxJar can help you save more time while keeping track of every deadline or requirement you need to meet. If you’re living in an area with complex tax regulations, this will certainly help you to get your head around it. TaxJar Sales Tax Filing
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Sales Tax Filing
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar will calculate your tax.