Taxes have always been among the most difficult tasks to complete regardless of whether you run an enterprise or not. Even more so if you do not have a degree in finance or accounting. Tax-related tasks can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the funds to engage an accountant making it your own can be dangerous. If you overlook one thing and you don’t know it, you may have to do it all over again!
Nearly everyone would prefer to skip this step. But since it’s required, we have no choice.
So , what can we do about it?
We can make life easier by using tools like TaxJar.
Here we’ll take a look at this life-saving tool and how it can help you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is the tool you require today.
Do you prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar TaxJar Save Tax Transaction
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar is used in a variety of industries, including food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is widely used by owners of online businesses to make their business more simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure you have a tax accounting platform perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you need to keep everything in place. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. So, there’s no need to collect data in multiple channels and then organize it on one platform. All you have to do is connect TaxJar then the system will do all the rest.
In addition, TaxJar also integrates with other platforms that can help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to file their sales taxes by hand or using TaxJar’s AutoFile feature. For the purpose of this article, we’ll look at both.
If you opt to go it alone, TaxJar will allow you to connect your sales platforms. Once the time comes for the filing of income tax returns The team will guide you on how to handle these. It is up to you and your staff to finish the tax returns in time. TaxJar is there to provide guidance on what you have to do but not handle it.
If you prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. Through this feature, everything is automated, from calculating taxes on sales to recording and processing them. But, it is possible to incur additional costs if the feature is you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting problems. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your staff will have access to everything you require, including the list of transactions, reports and information.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. Not only can they help you know how much you’ve earned, but they also help you keep track of when the next payment is due.
Their dashboard also allows you to fully view the total sales tax within your company. Additionally, you can export your data as a CSV file in case you require it to aid in process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. It means you don’t need to search for your documents when you need them in the event of a need. Even even if you already have an accounting firm, the feature will help them be more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will help you plan your money more efficiently. You’ll know better how much budget you have available for other operational costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but for anything connected to sales tax. You can look through their guides, webinars, as well as their blog to find more info. Additionally the sales tax calculator is useful if you’re planning to take on the entire task yourself.
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 expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing structures and the features that each of these options can offer you. Currently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the most suitable plan for you if you need help with filing requirements and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. With the starter plan, you can access their AI tax advice.
If you’re a small-scale business proprietor, then this program could be perfect for you. It may not have all the features of TaxJar but it comes with the essentials that you need.
Additionally, you can contact the support team via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for something that is more than the basics, then the Professional plan might be the right 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?
In addition to having access to every one of Starter plan’s features, you also get access to their phone customer support Access to APIs, phone support, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to opt for an upgrade instead. It comes with all the features needed to make your tax filing easier. In addition, they offer unlimited integrations with data imports, API integrationsfor team users as well as AutoFiles.
They also have a team that is devoted to managing your account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Save Tax Transaction
However, they did mention that this plan is customized to each user. Therefore, the cost will differ depending on what you need to run your business.
Luckily, you don’t have to gamble your money just to determine if this service is right for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. This should be enough time to gauge if the platform is an excellent fit for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is possible to integrate it 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 have access to the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses 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 revenue and products It can help you meet your deadlines. This is also an excellent option for accountants as they provide the Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
The use of TaxJar can help you save more time while keeping the track of each deadline and obligation you have to meet. If you live in a region with a lot of tax laws, this will certainly help you to get your head around the subject. TaxJar Save Tax Transaction
If handling your taxes is simple If it isn’t, 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 whole procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar Save Tax Transaction
What areas does TaxJar provide API support?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USdollars prior to when TaxJar can calculate your tax.