Taxes are always one of the most difficult things to handle regardless of whether you’re running an enterprise or not. Even more so if you do not have a background in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re packed with things to do. When you’re not able to afford the budget to engage an accountant making it your own can be risky. If you miss one detail and you don’t know it, you may need to repeat the process!
Nearly everyone would prefer to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So what can we do ?
We can make our lives easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can help you. While this is lengthy, you should be able to assess whether TaxJar is exactly what you need today.
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.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Setup Seller Central
The company was founded in 2013 TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all your sales channels to ensure that you are in compliance with your sales taxes. It streamlines processes that take days to complete and finish within just a few minutes.
TaxJar has been utilized in a variety of industries, including food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to make their business more organized and straightforward. Let’s explore the features and services offered by TaxJar.
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Features and services
Integration
One of the most important things you’ll need to make sure is that your accounting tax software perfectly integrates with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your critical metrics in one place. That way, there’s no need to collect information from multiple sources and sort it into a single platform. All you need to do is integrate TaxJar it will handle the rest.
In addition, TaxJar also integrates with other platforms to assist with payment processing. Here’s a list of the platforms they can integrate with:
Filing
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. In our review we’ll take a look into both.
If you choose to do it manually, TaxJar will allow you to connect all of your sales platforms. Once the time comes for filing tax returns for income The team will guide you on managing them. But, it is up for you and your team members to finish the tax returns within the timeframe. TaxJar will only provide guidance on what you should do but not handle it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. With this feature, everything will be automated, from calculating taxes on sales to recording and processing it. But, it is possible to incur additional charges if they are not part of the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your team will have access to all the information you need, such as a list of your transactions, reports and data.
The best part about the feature you’ve chosen is they allow you to update automatically every day. They not only let to know the amount you’ve earned however, they can also help you determine when your next payments are due.
Their dashboard can also allow you to see the overall sales taxes for your business. Additionally, you can export your data to the form of a CSV file in case you require it for your accounting and financial planning processes or if your team requires it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all the channels you sell through. That means you won’t have to search for your documents when you’re when you’re in a pinch. Even when you already have your accounting firm, the feature can make them more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your funds more effectively. You’ll know better how much budget you have for other operating costs.
The best part is that TaxJar offers training and tutorials, not just for their platform but everything that has to do with sales tax. You can check out their webinars, guides as well as their blog to find more info. In addition, their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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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 your business. That’s why for this section, we’ll look into TaxJar’s pricing levels and what each of these options can offer you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the most suitable plan for you for those who need assistance with filing requirements or reporting. It includes the tax on sales, four annual AutoFiles for free, as well as an CSV import. Even with the basic plan, you can access their AI tax tips.
If you’re a small-scale business owner, this plan will be ideal for you. It may not have all the features offered by TaxJar, but it has the essentials that you need.
Additionally, you can contact the support team via their email support chart. Additionally, you’ll have access to their integration capabilities.
Professional
If you’re looking for different from the standard features Professional may be the best option for you. It starts at $99, but you can increase it if you add custom features.
So how different is it from the starter plan?
In addition to having access to each of Starter plan’s features, you also get access to their phone customer support, API access, and advanced CSV import. Additionally, they allow you to get 12 AutoFiles for free each year.
Premium
If you own a huge enterprise, you may want to opt for the Premium plan instead. It has all of the features you need to help with your taxes. In addition, they offer unlimited integrations with data imports, API integrationsfor team members and AutoFiles.
They also have a team that is devoted for managing the account. They don’t reveal how much the Premium plan is going to cost. TaxJar Setup Seller Central
But they did state that this plan is tailor-fit for every user. The cost of the plan will be different in line with what you require to run your business.
Free Trial
It’s a good thing that you don’t have to risk your money to determine if this service is the right one for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to gauge whether the service is an excellent fit for you.
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Pros and Cons
Now that we’ve covered all you should be aware of TaxJar Let’s relax. To sum it all up we’ll go over the pros and cons of using TaxJar to run your business.
Pros
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers 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 possible to integrate it with other platforms
- It allows you to monitor multiple sales channels
Cons
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature
- Only valid for USA customers.
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for companies that have numerous sales channels, and that utilizes numerous platforms. If that’s what you’re doing, then you ought to try this.
It’s not just a way to help you track your products and revenue, but it can help you meet your deadlines. This is also an excellent opportunity for accountants since they have a Tax Advisor program. There are tips to follow and learn from their sessions regarding taxes via it.
Utilizing TaxJar can allow you to reduce time and keep on top of each deadline and obligation you have to meet. If you’re living in a place with complicated tax regulations, this will certainly help you to get your head around the subject. TaxJar Setup Seller Central
If handling taxes is easy, then TaxJar may be an unnecessary expense. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. Moreover, if you find the whole process easy to do, you might be better in doing it all on your own.
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FAQ TaxJar Setup Seller Central
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate 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 cannot convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you will need to convert it to USdollars prior to when TaxJar can calculate the tax.
