Taxes have always been among the hardest things to do, whether you’re running a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is packed with things to do. If you don’t have the budget to engage an accountant performing the task on your own can be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to skipping this step. But since it’s required to be done, we can’t choose not to.
So , what is the best way to deal with it?
We can make life easier with tools such as TaxJar.
Here we’ll take a look at this popular life-saving tool and explain how it can help you. Even though this is lengthy but you’ll be able to determine if TaxJar is the tool you require right now.
Do you prefer video streaming instead? Watch this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar Setup Reviews
The company was founded in 2013 TaxJar is an application that automatizes your reporting, filings and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to ensure that you are in compliance with sales tax requirements. It makes the process simpler that could can take days to complete, and finish within just a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by business owners who run online businesses to make their business more organized and straightforward. Let’s look into their features and services.
Features and services
One of the most important things you’ll want to check is your tax-reporting system seamlessly works well in conjunction with the sales channels you use. If you have multiple sales channels, you must ensure that everything is in order. The last thing you want is to face a penalty due to overlooking just one minor detail.
TaxJar allows you to show your most important metrics in one spot. So, there’s no requirement to collect information from multiple sources and then organize it on a single platform. All you have to do is connect TaxJar it will take care of all the rest.
Apart from that, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list of the platforms that they can connect with:
TaxJar lets customers make sales tax filings by hand or using the AutoFile feature. For this review, we’ll take a look at both.
If you opt to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. Once the time comes for filing tax returns for income TaxJar will train you on how to handle the tax returns. However, it will be up for you and your staff to complete the process in time. TaxJar will only guide you on what you need to 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 all forms by hand. Through this feature, everything will be automated, from calculating sales taxes through recording, and then processing them. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As we mentioned, you can use TaxJar to help you with your accounting issues. The orders you place through your online channels can be combined into one dashboard using this platform. From there you and your team will have access to everything you need, like a list of your transactions, reports, and data.
The best part about this option is the fact that they allow you to automatically update every day. They not only let to know the amount you’ve collected, but they also help you determine when your next payments are due.
The dashboard allows you to fully view the sales tax totals within your company. It is also possible to export the data as CSV format. CSV file, if you want to use it for your accounting and financial planning processes or if your team requires it for central reporting.
Training and Streamlining
TaxJar helps you organize and keep track of all of the channels you sell through. It means you don’t need to search for your documents when you’re in the event of a need. Even even if you already have an accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax in advance can help you allocate your funds more effectively. You’ll be aware of the budget you have available for other operating expenses.
The best part is that TaxJar provides training and tutorials not only for their platform , but also for anything that has to do with sales tax. You can look through their webinars, guides, and blog for more information. Additionally, their sales tax calculator is useful if you’re planning to take on the entire task yourself.
How much does TaxJar cost?
We know how crucial it is to set your budget. Some platforms offer superb capabilities, but they’re often too costly for the business you run. This is why in this section we’ll take a look at TaxJar’s pricing tiers and what each of these choices can provide you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It comes with taxes on sales and sales as well as four 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-scale business manager, the plan will be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
Additionally, you can contact the support team via their support chart for email. You’ll also have access to their integration features.
If you’re looking for something that is more than the basic features and options, then the Professional plan could be the one for you. The price starts at $99 but you can increase it by adding custom features.
What is the difference from the original plan?
Apart from having access to every one of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you own a huge enterprise, you may want to go for an upgrade instead. It has all of the features that you require to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports as well as Integrations with APIs, teams of members and AutoFiles.
They also have a staff who are devoted for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar Setup Reviews
But they did state that this plan is tailor-fit for each user. Therefore, the cost will differ in line with what you require for your company.
It’s a good thing that you don’t have to gamble your money just to see if this platform is right for you. If you’re still considering different options, they offer 30 days of free trial. This should give you enough time to determine whether the software is the right choice for you.
Pros and Cons
We’ve covered everything you should know about TaxJar let’s take a breather. To sum it all up Here are the pros and cons of making use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Provides an online sales tax calculator
- Has support service team
- The dashboard is easy to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- Allows you to track multiple 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 for USA customers
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes numerous platforms. If that sounds like what you’re doing, then ought to try this.
It’s not just a way to assist you in keeping track of the sales and profits of your business however, it will help you meet your deadlines. This is also an excellent option for accountants as they have tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
Utilizing TaxJar will help you save more time while keeping track of every deadline and requirement you have to meet. If you live in a region with a lot of tax regulations, this will surely help you wrap your head around the subject. TaxJar Setup Reviews
However, if managing taxes is easy, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels for sales, TaxJar won’t be needed to keep track of everything. Moreover, if you’re finding the entire procedure simple to follow, you might be better in doing it all by yourself.
FAQ TaxJar Setup Reviews
What are the areas in which TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions are in US$. If you’re using a different currency, you’ll need to convert it to US$ before TaxJar will calculate the tax.