Taxes are always one of the hardest things to do, whether you’re running your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related tasks can be overwhelming, particularly when you’re packed with things to do. If you don’t have enough money to hire an accountant, making it yourself can be dangerous. If you miss one detail 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 is the best way to deal with it?
We can make life easier by using tools like TaxJar.
This article will take a look at this life-saving device and how it can assist you. Even though this is a long read, you should be able to assess whether TaxJar is the tool you require in the present.
Prefer watching videos rather than watch them? 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, then let’s dive right in.
What is TaxJar? TaxJar Services
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to your entire sales tax life cycle. Furthermore, you can utilize it across all of your sales channels to make sure you’re in compliance with sales tax requirements. It makes the process simpler that could require days to complete and is completed in just a few only a few minutes.
TaxJar has been utilized in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is widely used by owners of online businesses to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting software seamlessly works well with your sales channel. 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 data in one location. This means that there is no need to collect data from different channels and then organize it on one platform. All you have to do is integrate TaxJar, and the platform will handle the rest.
Apart from that, TaxJar also integrates with other platforms to assist 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. In our review we’ll dig at both.
If you choose to do it manually, TaxJar will allow you to connect the sales channels you use. Once the time comes for filing income tax returns The team will guide you on managing these. But, it is up for you and your team to complete everything in time. TaxJar is only there to help you understand what you should accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out any forms manually. With this feature, everything is automated, from calculating sales taxes to recording and processing them. However, there might be additional charges if they are you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to help you with your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard through this platform. From there you and your team will have access to all the information you need, like an inventory of your transactions, reports, as well as the data.
The best part about this feature is that it lets you to update your account automatically each day. They not only let to know the amount you’ve earned however, they can also help you track when your following payments are due.
Their dashboard can also allow users to view in detail the total sales tax for your business. Additionally, you can export your data as CSV format. CSV file, if you want to use it to aid in process of financial planning and accounting or if you require it for centralized reporting.
Streamlining and Training
TaxJar assists in organizing and keeping track of all of your sales channels. This means that you don’t have to scramble for your documents when you’re when you’re in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance will allow you to allocate your funds more effectively. You’ll know better how much budget you have to cover other operating costs.
What’s more is that TaxJar offers training and tutorials, not just for their platform but everything related to sales tax. You can check out their guides, webinars, as well as their blog to find more info. Apart from that the sales tax calculator should be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Certain platforms have amazing capabilities, but they’re often too expensive for businesses. That’s why for this section, we’ll look into TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Their Starter plan is priced at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements and reporting. It comes with the tax on sales, four autofiles for free each year, and a CSV import. Even with the starter plan, you will be able to access their AI tax recommendations.
If you’re a small-scale business proprietor, then this program will be ideal for you. It might not include all the features of TaxJar but it comes with all the basics you require.
You can also contact their support team with their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for that is more than the basic features, then the Professional plan may be the best option for you. The price starts at $99 however, it could go up if you add custom features.
So how different is it from the basic plan?
In addition to having access to each of Starter plan’s features, you also get access to their support via phone, API access, and sophisticated CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to go for an upgrade instead. It has all of the features you need to make your tax filing easier. Moreover, they allow unlimited import integrations of data, API integrations, team users as well as AutoFiles.
There is also a team who are devoted to managing your account. However, they don’t disclose the price of the Premium plan. costs you. TaxJar Services
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ in line with what you require to run 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 looking into other options, they have the opportunity to try a free trial for 30 days. It should give you enough time to determine if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you must be aware of TaxJar let’s take a breather. To sum it all up we’ll go over the advantages and disadvantages of using TaxJar to run your business.
- There is a Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Provides on the internet for sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- Allows you to track multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature.
- Only valid for USA customers
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to businesses with many sales channels and utilizes many platforms. If this sounds like the way you’re doing, then ought to try this.
It’s not just a way to aid in tracking your products and revenue, but it can also help you meet the deadlines you set. This is also an excellent platform for an accountant since they offer the Tax Advisor program. There are tips to follow and learn from their sessions on taxes by using it.
The use of TaxJar can allow you to get more done while keeping track of every deadline and obligation you have to meet. If you’re in a place with complicated tax regulations, this will definitely help you get your head around the subject. TaxJar Services
However, if managing your taxes is straightforward If it isn’t, then TaxJar might not be a good investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire procedure simple to follow then you’re better off doing it on your own.
FAQ TaxJar Services
What areas does TaxJar provide API assistance?
TaxJar is currently assisting countries such as Australia, the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All transactions are in US$. If you’re using another currency, you’ll have to convert it to USdollars prior to when TaxJar will calculate your tax.