Taxes are always one of the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have a degree in finance or accounting. Tax-related tasks can be overwhelming, particularly when your whole day is full of things to be done. When you’re not able to afford the funds to employ an accountant, doing it on your own can be risky. If you miss one detail it could mean you need to repeat the process!
Nearly everyone would prefer to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do about it?
We can always make our lives easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can assist you. Although this is quite an extensive read it is possible to gauge whether TaxJar is exactly what you need right now.
Do you prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then let’s dive right in.
What is TaxJar TaxJar Sales Tax License
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It is a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are 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 a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is extensively used by business owners who run online businesses to ensure that everything is neat and simple. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting software is compatible in conjunction with the sales channels you use. If you’re selling through multiple channels, you must keep everything in place. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one place. So, there’s no need to gather data from different channels and sort it into a single platform. All you need to do is integrate TaxJar then the system will handle all the rest.
Other than that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of platforms that they can connect with:
TaxJar lets customers file their sales taxes manually or through their AutoFile feature. For our review we’ll take a look into both.
If you decide to do it manually, 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 instruct you on how to handle them. But, it is up to you and your staff to finish the tax returns in time. TaxJar will only provide guidance on what you have to do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. Through this feature, everything will be automated, from calculating sales taxes in order to record and process it. There could be extra fees if you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to assist you with your accounting issues. All orders made through your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your staff can access everything you need, such as an inventory of your transactions, reports, as well as information.
The greatest benefit of this option is the fact that they allow you to automatically update every day. Not only can they help to know the amount you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard also allows you to fully view the total sales tax for your business. You can also export the data to a CSV file if you need it for your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of the sales avenues you use. That means you won’t have to hunt for your paperwork when you’re when you’re in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will help you plan your funds better. You’ll know better how much budget you have to cover other operational costs.
What’s more is that TaxJar provides training and tutorials, not just for their platform , but also everything related to sales tax. Check out their webinars, guides as well as their blog to find more info. Additionally, their sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing levels and what each of those options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They claim that it’s the most effective plan if you need help in filing and reporting. It also includes taxes on sales and sales as well as 4 free yearly AutoFiles, and a CSV import. With the starter plan, you can access their AI tax recommendations.
If you’re a small-scale company manager, the plan could be ideal for you. It may not have all of TaxJar’s features but it comes with the basic features you require.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking to get different from the standard features Professional could be the one for you. It’s priced at $99 however, it could go up if you add custom features.
How different is it from the basic plan?
In addition to having access to every one of Starter plan’s options, you also have access to their phone customer support access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge business, you might need to opt for the Premium plan instead. It has all of the features you need to aid in your tax preparation. Additionally, they permit unlimited data import integrations API integrations, team users and AutoFiles.
There is also a team who are devoted in managing your accounts. However, they don’t disclose the amount that the Premium plan is going to cost. TaxJar Sales Tax License
However, they did say that this plan is customized for every user. So the costs will vary according to what you require to run your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. This 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 must know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of making use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for 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.
- It allows you to monitor multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access 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 provides a fantastic platform to businesses with numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue however, it will assist you in meeting the deadlines you set. It is also a great option for accountants as they provide a Tax Advisor program. You can find tips and gain knowledge from their workshops regarding taxes via it.
Using TaxJar can allow you to save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re living in a region with a lot of tax laws, this can certainly help you to get your head around the subject. TaxJar Sales Tax License
However, if managing your taxes is straightforward 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 track all of it. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Sales Tax License
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one kind of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it to USdollars before TaxJar determines your tax.