Taxes have always been among the most difficult tasks to complete, whether you’re running an enterprise or not. Particularly if you don’t have a degree in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is filled with tasks to complete. If you don’t have the budget to employ an accountant, performing the task on yourself can be risky. If you make a mistake, you might have to do it all over again!
Almost everyone wants to skip this step. But , as it’s a requirement and mandatory, there’s no other choice.
What can we do ?
It is always possible to simplify our lives with tools such as TaxJar.
Here we’ll take a look at this popular life-saving device and how it can benefit you. Although this is quite an extensive read but you’ll be able to assess whether TaxJar is the tool you require right now.
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.
But for those who prefer to read, then let’s get right into it.
What exactly is TaxJar? TaxJar Servicees
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. In addition, you can apply it across all of the sales channels you use to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is extensively used by online business owners to make their business more organized and straightforward. Let’s explore the benefits and features of TaxJar.
Features and services
One of the most important things you’ll need to make sure is that your accounting tax platform perfectly integrates along with sales funnels. If you have multiple sales channels, you must maintain everything in line. The last thing you want is to be penalized for missing a single minor point.
TaxJar allows you to show your key metrics in one spot. This means that there is no requirement to collect information from multiple sources and sort it into a single platform. All you have to do is integrate TaxJar then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to file their sales taxes by hand or using the AutoFile feature. In our review we’ll take a look at both.
If you decide to go it alone, TaxJar will allow you to connect all of those sales tools. When it comes time to filing income tax returns, the team will instruct you on how to manage these. However, it will be up to you and your team members to finish the tax returns in time. TaxJar will only provide guidance on what you have to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. Through this feature, everything will be automated, from calculating taxes on sales through recording, and then processing it. There could be additional charges if they are not included in the plan you chose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. Once you’re on the platform, you and your team will have access to all the information you need, such as a list of your transactions, reports, as well as data.
The greatest benefit of this feature is that it lets you to update automatically every day. They not only let to know the amount you’ve collected however, they can also help you keep track of when the next payments are due.
Their dashboard also allows you to see the sales tax totals for your business. Additionally, you can export the data to a CSV file in case you require it in your accounting and financial planning processes or if your team requires it for centralized reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all your sales channels. This means that you don’t have to search for your documents whenever you’re when you’re in a pinch. Even even if you already have an accountant, this function 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 more effectively. You’ll know better how much budget you have for other operational expenses.
The best part is that TaxJar offers tutorials and training not only for their platform but everything related to sales tax. You can check out their webinars, guides, or blog posts for additional info. Apart from that the sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing tiers and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
The Starter plan starts at $19. They say it’s the best plan to help you with filing requirements or reporting. It comes with the tax on sales, four free yearly AutoFiles, and an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small business manager, the plan should be perfect for you. It may not have all the features of TaxJar but it comes with the basic features you require.
In addition, you can reach the support team via their email support chart. You’ll also have access to their integration tools.
If you’re looking for something that is more than the basics Professional may be the best option 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 accessing each of Starter plan’s features, you also get access to the support of their customer service via phone, API access, and sophisticated CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large business, you might need to choose the Premium plan instead. It has all of the features needed to aid in your tax preparation. Additionally, they permit unlimited import integrations of data as well as API integrationsfor team users as well as AutoFiles.
They also have a team who are devoted for managing the account. However, they don’t disclose how much the Premium plan will cost you. TaxJar Servicees
However, they did mention that this plan is tailor-fit to each user. So the costs will vary according to what you require for your business.
It’s a good thing that you don’t have to gamble your money just to see if this platform is the right one for you. If you’re still considering different options, they offer a 30-day free trial. This should be enough time to determine whether the service is a good fit for you.
Pros and Cons
We’ve covered everything you should know about TaxJar let’s take a break. To sum it all up Here are the advantages and disadvantages of making use of TaxJar to run your business.
- Has a Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online 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 on AutoFile are determined by 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 check local legislation
The Final Verdict
With everything clearly laid out, TaxJar provides a fantastic platform to companies with many sales channels and utilizes numerous platforms. If this sounds like the way you do, then you ought to try this.
Not only will it help you track your products and revenue It can assist you in meeting the deadlines you set. It is also a great option for accountants as they provide tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Utilizing TaxJar will help you save more time while keeping on top of each deadline or requirement you need to fulfill. If you’re living in a region with a lot of tax laws, this will definitely help you get your head around it. TaxJar Servicees
However, if managing your taxes is simple If it isn’t, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the whole procedure simple to follow, you might be better in doing it all by yourself.
FAQ TaxJar Servicees
What are the areas in which TaxJar offer API support?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions are in USdollars. If you’re using another currency, you will need to convert it into USUSD prior to when TaxJar will calculate the tax.