Taxes have always been one of the hardest things to do regardless of whether you run a business or not. Even more so if you do not have a background in finance or accounting. Tax-related work can be overwhelming, especially when you’re packed with things to do. If you don’t have the budget to engage an accountant performing the task on your own can be dangerous. If you miss one detail it could mean you have to do it all over again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
What can we do about it?
We can simplify our lives by using tools like TaxJar.
Here we’ll take a look at this well-known life-saving tool and explain how it can help you. Even though this is a long read it is possible to assess whether TaxJar is the tool you require right now.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Sales Tax Reviews
In 2013, TaxJar was established. TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculations. It is a solution for the entire life cycle. Furthermore, you can utilize it in all of the sales channels you use to ensure compliance with your sales taxes. It streamlines processes that take days to complete and is completed in just a few minutes.
TaxJar has been utilized in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is widely used by online business owners to ensure that everything is simple and organized. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll need to ensure is your tax-reporting platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, you need to keep everything in place. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. This means that there is no need to gather information from multiple sources and sort it into one platform. All you need to do is to integrate TaxJar and the platform will handle all the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar allows clients to make sales tax filings either manually or via the AutoFile feature. For our review we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect your sales platforms. When it comes time to filing income tax returns The team will guide you on how to manage these. However, it will be up for you and your team to finish the tax returns on time. TaxJar is there to help you understand what you need to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit all forms by hand. With this feature, everything will be automated, from calculating sales taxes in order to record and process them. However, there might be extra fees if you do not include this feature in the plan you select.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. The orders you place through your online channels can be combined into a single dashboard through this platform. From there you and your team will have access to everything you need, like the list of transactions, reports, as well as information.
The best part about this feature is that it lets you to update your account automatically each day. Not only can they help you keep track of how much you’ve earned, but they also help you track when your following payment is due.
The dashboard allows users to view in detail the total sales tax for your business. Additionally, you can export your data as the form of a CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to search for your documents when you’re when you’re in a pinch. Even if 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 can help you allocate your funds more effectively. You’ll know better how much budget you have for other operational costs.
The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more information. In addition, their sales tax calculator is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to set your budget. Some platforms offer superb features, but they can be too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing structures and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They say it’s the most effective plan if you need help with filing requirements or reporting. It comes with taxes on sales and sales as well as four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you will be able to access their AI tax tips.
If you’re a smaller company owner, this plan could be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
In addition, you can reach their customer support via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking to get different from the basic features Professional may be the best option for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge company, you may need to choose an upgrade instead. It comes with all the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrationsfor team users, and AutoFiles.
There is also a team that is devoted for managing the account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar Sales Tax Reviews
However, they did mention that this plan is customized for every user. The cost of the plan will be different depending on what you need for your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is right for you. If you’re still looking into other options, they have 30 days of free trial. This should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar Let’s relax. To sum it all up, here are the advantages and disadvantages of the use of TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides Taxes on sales online calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It can 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 be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with multiple sales channels and uses many platforms. If this sounds like the way you do, then you must try TaxJar.
It’s not just a way to help you track your products and revenue however, it will help you meet your deadlines. It’s also an excellent opportunity for accountants since they provide a Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Using TaxJar will help you save more time while keeping the track of each deadline or requirement you need to fulfill. If you live in a place with complicated tax laws, this will surely help you wrap your head around it. TaxJar Sales Tax Reviews
If handling your taxes is simple, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the entire procedure simple to follow, you might be better in doing it all by yourself.
FAQ TaxJar Sales Tax Reviews
What are the areas in which 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 integrate Shopify into TaxJar?
Yes. You can connect 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 cannot convert currencies. The transactions are in US$. If you’re using another currency, you will need to convert it into USUSD before TaxJar determines your tax.