Taxes have always been one of the most difficult things to handle, whether you’re running your own business or not. Particularly if you don’t have any experience in finance or accounting. Tax-related work aren’t easy, particularly when you’re packed with things to do. If you don’t have enough money to engage an accountant performing the task on yourself can be risky. If you overlook one thing and you don’t know it, you may need to repeat the process!
Almost everyone wants to skip this step. However, since it’s mandatory, we have no choice.
So what can we do about it?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. Even though this is lengthy but you’ll be able to determine if TaxJar is what you need today.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar San Diego
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Additionally, you can use it across all your sales channels to make sure you’re in compliance with sales taxes. It simplifies the processes that require days to complete and finish within just a few minutes.
TaxJar is used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can this help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one spot. That way, there’s no need to gather data in multiple channels and sort it into a single platform. All you have to do is connect TaxJar, and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to submit their sales tax manually or through their AutoFile feature. In this review, we’ll look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect the sales channels you use. When the time is right for the filing of income tax returns TaxJar will train you on how to handle them. It is up to you and your team to complete the process within the timeframe. TaxJar is only there to guide you on what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating sales tax in order to record and process it. But, it is possible to incur extra fees if not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to assist you with your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team can access everything you need, like an inventory of your transactions, reports, and the data.
The best part about the feature you’ve chosen is they allow you to update your account automatically each day. Not only can they help to know the amount you’ve collected, but they also help you track when your following payments are due.
The dashboard allows you to see the overall sales taxes within your company. You can also export your data as a CSV file in case you require it in your financial planning and accounting processes or if your team requires it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to hunt for your paperwork when you need them when you’re in a pinch. Even when you already have your accounting firm, the feature will aid them in being more efficient.
Additionally, knowing the figures for the sales tax you pay in advance can help you 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 training and tutorials, not just for their platform but all things connected to sales tax. Check out their guides, webinars, as well as their blog to find more info. Apart from that their sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms offer superb features, but they can be too costly for the business you run. This is why in this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. The company claims that it’s the best plan to help you in filing and reporting. It comes with the tax on sales, four annual AutoFiles for free, as well as a CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small business proprietor, then this program should be ideal for you. It may not have all of TaxJar’s features however, it does include the basic features you require.
You can also contact the support team via their email support chart. You’ll also be able to use their integration tools.
If you’re looking for a bit more than just the basic features and options, then the Professional plan may be the best option for you. It’s priced at $99 but you can increase it if you add custom features.
So how different is it from the original plan?
In addition to having access to all of the Starter plan’s features, you also have their phone customer support access to APIs, as well as advanced CSV import. You can also receive 12 free AutoFiles every year.
If you own a huge business, you might need to choose the Premium plan instead. It includes all of the features you need to help with your taxes. In addition, they offer unlimited data import integrations API integrationsfor team members, and AutoFiles.
There is also a team dedicated to managing your account. They don’t reveal the price of the Premium plan. is going to cost. TaxJar San Diego
But they did state that this plan is tailor-fit for each user. The cost of the plan will be different in line with what you require to run your business.
Luckily, you don’t have to bet your life on it to see if this platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to determine if the platform is an excellent fit for you.
Pros and Cons
Now that we’ve covered all you must be aware of TaxJar let’s take a breather. To sum it all up, here are the pros and cons of making use of TaxJar to run your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it with other platforms.
- It allows you to monitor multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature.
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with many sales channels and utilizes many platforms. If that’s what you do, then you ought to try this.
Not only can it help you track your revenue and products It can also help you meet the deadlines you set. It’s also an excellent option for accountants as they offer a Tax Advisor program. You can find tips and get knowledge from their seminars about taxes through it.
Using TaxJar can help you save more time while keeping the track of each deadline and requirement you have to meet. If you’re in a region with a lot of tax laws, this will definitely help you get your head around it. TaxJar San Diego
However, if managing taxes is easy If it isn’t, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of all of it. 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 San Diego
What are the areas in which TaxJar provide API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions are in USdollars. If you’re using another currency, you will need to convert it into USdollars before TaxJar can calculate your tax.