Taxes have always been one of the hardest things to do regardless of whether you run an enterprise or not. More so 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. In the event that you do not have the funds to employ an accountant, making it your own could be risky. If you make a mistake, you might have to do it all over again!
Almost everyone wants to avoid this step. However, since it’s mandatory to be done, we can’t choose not to.
So , what can we do about it?
We can simplify our lives by using tools like TaxJar.
This article will 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 determine if TaxJar is what you need right now.
Prefer watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.
If you prefer to read, let’s get right into it.
What is TaxJar TaxJar Scam
Founded in 2013, TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. TaxJar is a solution to the entire life cycle. Furthermore, you can utilize it across all of your sales channels to ensure that you are in compliance with sales tax requirements. It simplifies the processes that require days to complete and can be completed in a matter of just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is extensively used by business owners who run online businesses to keep everything neat and simple. Let’s take a look at their features and services.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system perfectly integrates along with sales funnels. If you’re selling through multiple channels, you need to maintain everything in line. The last thing you want is to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical metrics in one place. So, there’s no need to gather information from multiple sources and sort it into a single platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help with payment processing. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers submit their sales tax manually or through TaxJar’s AutoFile feature. In this review, we’ll dig at both.
If you opt to do it manually, TaxJar will allow you to connect all those sales tools. When the time is right for filing tax returns for income, the team will instruct you on how to manage these. However, it will be up for you and your team members to complete everything on time. TaxJar will only help you understand what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out all forms by hand. This feature will ensure that everything will be automated from calculating sales taxes to recording and processing it. However, there might be extra fees if not part of the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting problems. Your orders from your e-commerce channels can be combined into a single dashboard through this platform. Once you’re on the platform you and your staff can access everything you need, such as an inventory of your transactions, reports, and the data.
The best part about this option is the fact that it allows you to automatically update every day. Not only can they help to know the amount you’ve accumulated however, they can also help you determine when your next payments are due.
The dashboard allows you to fully view the total sales tax within your company. Additionally, you can export the information in a CSV file if you need it for your process of financial planning and accounting or if you require it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep on top of all the channels you sell through. It means you don’t need to hunt for your paperwork when you’re when you’re in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have available for other operational expenses.
But what’s even better is that TaxJar provides training and tutorials, not just on their platform, but all things that has to do with sales tax. You can look through their guides, webinars, and blog for more info. Additionally, their sales tax calculator should be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We are aware of how important it is to set your budget. Some platforms provide amazing capabilities, but they’re often too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and what each of those choices can provide you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan costs $19. They say it’s the best plan if you need help with filing requirements or 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 have access to their AI tax advice.
If you’re a small-scale business manager, the plan will be perfect for you. It may not have all of TaxJar’s features but it comes with all the basics you require.
Additionally, you can contact their support team with their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking for that is more than the standard features, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
If you own a huge business, you might need to go for an upgrade instead. It comes with all the features that you require to make your tax filing easier. Moreover, they allow unlimited integrations with data imports API integrations, team users, and AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Scam
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different depending on what you need for your company.
Fortunately, you don’t need to risk your money to see if this platform is right for you. If you’re still considering different options, they offer 30 days of free trial. It should give you enough time to see whether the software is a good fit for you.
Pros and Cons
We’ve covered everything you need to know about TaxJar let’s take a breather. In order to sum up the whole thing Here are the pros and cons of using TaxJar for your company.
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers on the internet for sales tax calculator
- Support service team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It can be integrated with other platforms
- You can track several 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 for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If that sounds like what you’re doing, then ought to try this.
Not only will it help you track your revenue and products, but it can help you meet the deadlines you set. It is also a great platform for an accountant since they offer the Tax Advisor program. You can get tips and learn from their sessions on taxes by using it.
Using TaxJar will help you save more time while keeping track of every deadline or requirement you need to meet. If you’re in a region with a lot of tax regulations, this will surely help you wrap your head around it. TaxJar Scam
However, if managing your taxes is straightforward, then TaxJar could be a waste of investment. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. If you’re finding the entire procedure easy to complete, you might be better off doing it on your own.
FAQ TaxJar Scam
What are the areas in which TaxJar provide API assistance?
TaxJar is currently assisting countries such as those of the United States, the EU, Australia, and Canada.
Do I have the ability to 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 currency values. All of the transactions are in US$. If you’re using another currency, you’ll need to convert it into USUSD before TaxJar determines the tax.