Taxes have always been among the most difficult things to handle regardless of whether you’re running an enterprise or not. More so if you don’t have any experience in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re filled with tasks to complete. In the event that you do not have the budget to hire an accountant, performing the task on yourself can be dangerous. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. But since it’s required and mandatory, there’s no other choice.
So what can we do ?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can assist you. While this is a long read, you should be able to gauge whether TaxJar is the tool you require today.
Are you looking video streaming instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, let’s get right into it.
What exactly is TaxJar? TaxJar Save Orders
Founded in 2013, TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Furthermore, you can utilize it across all of 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 is completed in just a few just a few minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is extensively used by owners of online businesses to keep everything neat and simple. Let’s look into the benefits and features of 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 have multiple sales channels, it is essential to ensure that everything is in order. The final thing you would like is to be penalized for overlooking just one minor detail.
TaxJar allows you to show your most important data in one location. That way, there’s no need to collect data from different channels and sort it into a single platform. All you have to do is connect TaxJar it will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. In our review we’ll dig at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. When the time is right for the filing of income tax returns The team will guide you on how to manage them. But, it is up to you and your staff to complete everything within the timeframe. TaxJar is there to provide guidance on what you should 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 any forms manually. Through this feature, everything is automated, from calculating taxes on sales to recording and processing them. There could be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. Once you’re on the platform you and your staff will have access to everything you need, like the list of transactions, reports, and the data.
The most appealing aspect of this option is the fact that it lets you to update your account automatically each day. Not only will they let you know how much you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
The dashboard allows you to see the overall sales taxes within your company. Additionally, you can export the data to CSV format. CSV file if you need it to aid in financial planning and accounting processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to hunt for your paperwork when you need them in the event of a need. Even if you already have your accounting firm, the feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your funds more effectively. You’ll be aware of the budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform , but also everything that has to do with 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 set your budget. Certain platforms have amazing features, but they’re sometimes too costly for your business. For this reason, we’ll look into TaxJar’s pricing levels and the features that each of these plans can offer. Presently, 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 with filing requirements or reporting. It includes taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small business proprietor, then this program should be perfect for you. It may not offer all the features offered by TaxJar however, it does include the essentials that you need.
Additionally, you can contact their support team with their support chart for email. Additionally, you’ll have access to their integration tools.
If you’re looking for something that is more than the standard features, then the Professional plan could be the one for you. It starts at $99, but you can increase it when you add additional features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s features, you also get access to their support via phone access to APIs, as well as advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to choose the Premium plan instead. It has all of the features you need to make your tax filing easier. Additionally, they permit unlimited import integrations of data, Integrations with APIs, teams of users, and AutoFiles.
They also have a team who are devoted to managing your account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Save Orders
However, they did say that this plan is customized for each user. The cost of the plan will be different depending on what you need to run your business.
Fortunately, you don’t need to gamble your money just to find out if the platform is the right one for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is an excellent fit for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a breather. To sum it all up Here are the pros and cons of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated 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 applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out, TaxJar can be a great platform businesses with multiple sales channels and uses plenty of platforms. If this sounds like the way you’re doing, then ought to try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business It can assist you in meeting your deadlines. It’s also an excellent opportunity for accountants since they offer the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar will help you save more time while keeping on top of each deadline and obligation you have to fulfill. If you’re in an area with complex tax regulations, this will definitely help you get your mind around it. TaxJar Save Orders
But if handling your taxes is simple, then TaxJar might not be a good expense. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. Moreover, if you’re finding the entire procedure simple to follow and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Save Orders
What areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it into US$ prior to when TaxJar will calculate the tax.