Taxes are always one of the most difficult things to handle, whether you’re running a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related work aren’t easy, particularly when you’re filled with tasks to complete. In the event that you do not have the budget to employ an accountant, doing it on your own can be risky. If you make a mistake and you don’t know it, you may have to do it all over again!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So what is the best way to deal with it?
We can make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving device and how it can help you. Even though this is a long read it is possible to gauge whether TaxJar is exactly what you need in the present.
Are you looking video streaming instead? Check out 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 dive right in.
What is TaxJar? TaxJar Scam Fear
Founded in 2013, TaxJar is a platform that helps automate your reports, filings, and sales tax calculations. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of your channels of sales to ensure that you are in compliance with your sales taxes. It makes the process simpler that could take days to complete and is completed in just a few just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by business owners who run online businesses to keep everything simple and organized. Let’s take a look at the benefits and features of TaxJar.
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Services and features
Integration
One of the most important things you’ll need to make sure is that your accounting tax software is compatible along with sales funnels. If you have multiple sales channels, you need to ensure that everything is in order. The final thing you would like is to be penalized for missing a single minor point.
TaxJar allows you to show your key data in one location. So, there’s no need to collect data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar and the platform will do 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 are able to integrate with:
Filing
TaxJar lets customers file their sales taxes by hand or using TaxJar’s AutoFile feature. In this review, we’ll take a look at both.
If you choose to go it alone, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income The team will guide you on how to handle them. However, it will be up to you and your staff to complete the process on time. TaxJar will only help you understand what you have to 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 the forms in a manual manner. This feature will ensure that everything is automated, from calculating taxes on sales in order to record and process them. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As mentioned earlier it is possible to use TaxJar to help you with your accounting problems. The orders you place through your online 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 an inventory of your transactions, reports and the 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 you know how much you’ve collected however, they can also help you keep track of when the next payment is due.
The dashboard allows you to fully view the total sales tax in your business. Additionally, you can export the information in CSV format. 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.
Training and Streamlining
TaxJar helps organize and keep track of all of the channels you sell through. That means you won’t have to scramble for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. Check out their webinars, guides, as well as their blog to find more details. Apart from that their sales tax calculator is beneficial when you’re planning to complete everything yourself.
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How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms offer superb capabilities, but they’re often too expensive for businesses. This is why in this section, we’ll look into TaxJar’s pricing levels and what each of those plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Starter
Their Starter plan costs $19. They claim that it’s the best plan for those who need assistance with filing requirements or reporting. It comes with sales tax reporting, 4 annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you have access to their AI tax advice.
If you’re a small company owner, this plan will be ideal for you. It may not offer all the features of TaxJar but it comes with the basic features you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration tools.
Professional
If you’re looking for something different from the basic features Professional might be the right one for you. It starts at $99, but it can go higher when you add additional features.
So how different is it from the original plan?
In addition to having access to each of Starter plan’s features, you also have their support via phone access to APIs, as well as sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
Premium
If you own a huge enterprise, you may want to go for the Premium plan instead. It has all of the features needed to help with your taxes. Additionally, they permit unlimited import integrations of data, API integrations, team users and AutoFiles.
They also have a team dedicated in managing your accounts. But, they don’t divulge the amount that the Premium plan costs you. TaxJar Scam Fear
But they did state that the plan is custom-made to each user. So the costs will vary according to what you require for your company.
Free Trial
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine if the platform is an excellent fit for you.
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Pros and Pros and
We’ve covered everything you need to know about TaxJar Let’s relax. To summarize we’ll go over the advantages and disadvantages of using TaxJar for your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers an online sales tax 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
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature
- Only applicable to USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything laid out, TaxJar is an excellent platform for businesses with many sales channels and utilizes numerous platforms. If that’s what you’re doing, then you ought to try this.
Not only can it aid in tracking the sales and profits of your business, but it can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
The use of TaxJar can help you reduce time and keep track of every deadline and requirement you have to fulfill. If you’re living in a place with complicated tax laws, this will certainly help you to get your head around it. TaxJar Scam Fear
However, if managing your taxes is simple and straightforward, then TaxJar may be an unnecessary expense. If you have only one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole procedure simple to follow and you’re comfortable with it, you may be better off doing it by yourself.
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FAQ TaxJar Scam Fear
Which areas does TaxJar offer API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I integrate 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 using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it into USdollars before TaxJar can calculate the tax.
