Taxes have always been among the hardest things to do regardless of whether you’re running your own business or not. More so if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re packed with things to do. If you don’t have the funds to employ an accountant, doing it on your own could be risky. If you make a mistake it could mean you need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory and mandatory, there’s no other choice.
So what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can assist you. While this is an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Prefer 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, we’ll dive right into.
What exactly is TaxJar? TaxJar Sales Tax Map
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, filings and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. 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 that your accounting tax platform is compatible along with sales funnels. If you’re selling through multiple channels, it is essential to ensure that everything is in order. The most important thing is not to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one spot. That way, there’s no requirement to collect data in multiple channels and organize it into one platform. All you have to do is integrate TaxJar it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar lets customers file their sales taxes by hand or using the AutoFile feature. In this review, we’ll look into both.
If you decide to go it alone, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on managing them. However, it will be up for you and your team to complete everything in time. TaxJar is there to guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales tax in order to record and process it. However, there might be extra fees if not part of the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to help you with your accounting problems. All orders made through your e-commerce channels can be compiled into one dashboard using this platform. From there, you and your team will have access to everything you require, including an inventory of your transactions, reports and data.
The greatest benefit of this feature is that they allow you to automatically update every day. Not only will they let to know the amount you’ve collected, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the sales tax totals in your business. You can also export the information as CSV format. CSV file in case you require it to aid in accounting and financial planning processes or if you require it for central reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all the sales avenues you use. That means you won’t have to hunt for your paperwork whenever you’re when you’re in a pinch. Even if you already have your accountant, this feature will help them be more efficient.
Additionally, knowing the figures for your sales tax in advance will allow you to allocate your money more efficiently. You’ll know exactly how much budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training, not just for their platform , but also everything connected to sales tax. Check out their webinars, guides, as well as their blog to find more info. In addition, their sales tax calculator should be beneficial when 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 provide amazing capabilities, but they’re often too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan starts at $19. They say it’s the most suitable plan for you to help you with filing requirements or reporting. It also includes the tax on sales, four free yearly AutoFiles, and a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a small-scale company owner, this plan should be ideal for you. It might not include all of TaxJar’s features, but it has the essentials that you need.
In addition, you can reach their support team with their email support chart. You’ll also be able to use their integration tools.
If you’re looking for that is more than the basic features Professional could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the starter plan?
Apart from having access to all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as the ability to do advanced CSV import. Additionally, they allow you to have 12 free AutoFiles each year.
If you own a huge enterprise, you may want to opt for premium plans instead. It has all of the features that you require to make your tax filing easier. Additionally, they permit unlimited integrations with data imports, API integrations, team members as well as AutoFiles.
They also have a staff dedicated in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. TaxJar Sales Tax Map
However, they did mention that this plan is tailor-fit for every user. So the costs will vary in line with what you require for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is right 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 if the platform is the right choice for you.
Pros and Cons
We’ve covered everything you must be aware of TaxJar let’s take a break. To summarize Here are the pros and cons of using TaxJar for your business.
- There is a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides Taxes on sales online 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.
- You can track several 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 valid for USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid out TaxJar can be a great platform companies that have numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then you must try TaxJar.
Not only can it assist you in keeping track of your revenue and products however, it will also help you meet the deadlines you set. This is also an excellent opportunity for accountants since they offer tax Advisor program. You can find tips and get knowledge from their seminars on taxes by using it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this can certainly help you to get your mind around it. TaxJar Sales Tax Map
However, if managing your taxes is simple If it isn’t, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the whole process easy to do, you might be better in doing it all on your own.
FAQ TaxJar Sales Tax Map
Which areas does TaxJar offer API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can link 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 does not convert currency values. All of the transaction amounts are n US$. If you’re using another currency, you’ll have to convert it to USUSD prior to when TaxJar determines your tax.