Taxes are always one of the hardest things to do, whether you’re running a business or not. Particularly if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have the budget to engage an accountant making it yourself can be risky. If you miss one detail and you don’t know it, you may have to redo things again!
Almost everyone wants to skipping this step. But , as it’s a requirement and mandatory, there’s no other choice.
So , what is the best way to deal with it?
We can simplify our lives with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can help you. While this is an extensive read but you’ll be able to assess whether TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What exactly is TaxJar? TaxJar Sendowl
The company was founded in 2013 TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. It’s a solution for all aspects of your sales tax cycle. In addition, you can apply it in all of your sales channels to make sure you’re in compliance with sales tax requirements. It streamlines processes that can take days to complete, and finish within just a few minutes.
TaxJar has been used in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s explore the benefits and features of TaxJar.
Features and services
One of the first things you’ll need to ensure is your tax-reporting software is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar lets you display your most important metrics in one place. That way, there’s no requirement to collect data in multiple channels and organize it into a single platform. All you need to do is connect TaxJar, it will do the rest.
In addition, TaxJar also integrates with other platforms that 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 by hand or using TaxJar’s AutoFile feature. In this review, we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. When the time is right for filing tax returns for income TaxJar will train you on managing them. It is up to you and your team to complete everything in time. TaxJar is there to guide you on what you should do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be automated from calculating sales tax in order to record and process it. But, it is possible to incur additional charges if they are you do not include this feature in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to help you with your accounting woes. 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 team can access everything you need, like a list of your transactions, reports, and data.
The most appealing aspect of this option is the fact that they allow you to automatically update every day. Not only can they help you keep track of how much you’ve collected, but they also help you track when your following payments are due.
Their dashboard also allows users to view in detail the overall sales taxes within your company. It is also possible to export the data as a CSV file in case you require it to aid in accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar helps organize and keep on top of all your sales channels. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this feature will aid them in being more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll know better how much budget you have to cover other operational expenses.
What’s more is that TaxJar provides training and tutorials and tutorials, not just for their platform but all things related to sales tax. You can check out their webinars, guides or blog posts for additional information. Apart from that their sales tax calculator is 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 can be too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing levels and what each of these options can offer you. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan to help you in filing and reporting. It includes the tax on sales, 4 autofiles for free each year, and a CSV import. Even with the basic plan, you will be able to access their AI tax advice.
If you’re a small business owner, this plan could be perfect for you. It may not offer all of TaxJar’s features however, it does include the essentials that you need.
You can also contact the support team via their email support chart. Additionally, you’ll have access to their integration features.
If you’re looking to get different from 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.
What is the difference from the starter plan?
In addition to having access to all of the Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and sophisticated CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to choose premium plans instead. It comes with all the features you need to help with your taxes. Additionally, they permit unlimited data import integrations as well as API integrations, team users as well as AutoFiles.
They also have a team dedicated to managing your account. However, they don’t disclose how much the Premium plan costs you. TaxJar Sendowl
However, they did say that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require to run your business.
Fortunately, you don’t need to risk your money to determine if this service is for you. If you’re still looking into different options, they offer the opportunity to try a free trial for 30 days. This should give you enough time to gauge whether the service is the right choice for you.
Pros and Cons
After we’ve gone over everything you should know about TaxJar let’s take a breather. In order to sum up the whole thing we’ll go over the pros and cons of the use of TaxJar for your company.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers 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
- Allows you to track multiple sales channels
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only valid for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If that’s what you’re doing, then you should try this.
It’s not just a way to aid in tracking your revenue and products however, it will also help you meet the deadlines you set. It’s also an excellent platform for an accountant since they offer tax Advisor program. You can get tips and get knowledge from their seminars regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping on top of each deadline or requirement you need to fulfill. If you live in an area with complex tax laws, this can surely help you wrap your mind around it. TaxJar Sendowl
But if handling your taxes is straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. If you find the entire procedure easy to complete then you’re better off doing it on your own.
FAQ TaxJar Sendowl
What are the areas in which TaxJar offer API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I integrate Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. The transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it into US$ before TaxJar will calculate the tax.