Taxes have always been one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have a background in accounting or finance. 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 enough money to engage an accountant performing the task on yourself can be dangerous. If you overlook one thing it could mean you have to redo things again!
Most people want to skip this step. But since it’s required and mandatory, there’s no other choice.
So what can we do about it?
We can always make our lives easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. Although this is quite lengthy it is possible to gauge whether TaxJar is exactly what you need right now.
Do you prefer watching videos rather than watch them? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Sample Report
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it in all of your channels of sales to ensure that you are in compliance with sales tax requirements. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar has been used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by owners of online businesses to ensure that everything is organized and straightforward. Let’s explore their features and services.
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Features and services
Integration
One of the first things you’ll want to check is that your accounting tax platform seamlessly works well along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The most important thing is not to get a penalty for missing a single minor point.
TaxJar allows you to show your critical metrics in one place. This means that there is no need to gather data in multiple channels and sort it into a single platform. All you need to do is integrate TaxJar and the platform will take care of the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of the platforms they can integrate with:
Filing
TaxJar allows customers to submit their sales tax by hand or using their AutoFile feature. For 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 those sales tools. When it comes time to filing tax returns for income, the team will instruct you on how to handle the tax returns. But, it is up for you and your team members to complete the process on time. TaxJar is there to provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing them. But, it is possible to incur additional charges if they are not part of the plan you chose.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your team can access everything you require, including the list of transactions, reports, and data.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. Not only will they let to know the amount you’ve accumulated, but they also help you determine when your next payments are due.
Their dashboard also allows you to fully view the sales tax totals within your company. Additionally, you can export the information to CSV format. CSV file if you need it in your financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. It means you don’t need to hunt for your paperwork when you need them in the event of a need. Even even if you already have an accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just on their platform, but everything related to sales tax. You can look through their webinars, guides, or blog posts for additional details. Apart from that the sales tax calculator should be beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to set your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason, we’ll look into TaxJar’s pricing levels and what each of those options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan costs $19. They claim that it’s the best plan to help you in filing and reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small company owner, this plan could be ideal for you. It might not include all of TaxJar’s features but it comes with the essentials that you need.
You can also contact their customer support via their support chart for email. You’ll also be able to use their integration tools.
Professional
If you’re looking for different from the standard features and options, then the Professional plan could be the one for you. It’s priced at $99 but it can go higher by adding custom features.
How different is it from the original plan?
Apart from having access to all of the Starter plan’s features, you also get access to the support of their customer service via phone, API access, and the ability to do advanced CSV import. You can also get 12 AutoFiles for free each year.
Premium
If you run a large enterprise, you may want to opt for an upgrade instead. It has all of the features that you require to make your tax filing easier. Moreover, they allow unlimited data import integrations, API integrationsfor team members, and AutoFiles.
There is also a team dedicated in managing your accounts. They don’t reveal the price of the Premium plan. is going to cost. TaxJar Sample Report
But they did state that this plan is customized to each user. The cost of the plan will be different in line with what you require for your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still considering various options, they provide a 30-day free trial. It should give you enough time to determine whether the service is a good fit for you.
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Pros and Cons
After we’ve gone over everything you must know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of making use of TaxJar for your company.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers on the internet for sales tax calculator.
- 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
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you do, then you ought to try this.
Not only will it help you track your products and revenue It can assist you in meeting your deadlines. It’s also an excellent platform for an accountant since they offer a Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar can help you get more done while keeping track of every deadline and requirement you have to meet. If you’re living in an area with complex tax laws, this can certainly help you to get your head around the subject. TaxJar Sample Report
But if handling your taxes is simple, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to track all of it. In addition, if you find the entire process easy to do then you’re better off doing it on your own.
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FAQ TaxJar Sample Report
What are the areas in which TaxJar provide 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 with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All of the transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar determines the tax.
