Taxes have always been among the most difficult things to handle regardless of whether you run an enterprise or not. Even more so if you do not have any experience in accounting or finance. Tax-related work can be overwhelming, especially when your whole day is full of things to be done. When you’re not able to afford the budget to employ an accountant, making it your own could be risky. If you make a mistake and you don’t know it, you may need to repeat the process!
Most people want to skip 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?
It is always possible to make life easier with tools such as TaxJar.
Here we’ll take a look at this life-saving tool and explain how it can assist you. While this is an extensive read it is possible to determine if TaxJar is the tool you require today.
Prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s get right into it.
What is TaxJar TaxJar Showing Wrong States
The company was founded in 2013 TaxJar is an online platform that assists you in automating your reports, filings, and sales tax calculation. It’s a solution for your entire sales tax life cycle. Furthermore, you can utilize it across all the sales channels you use to make sure you’re in compliance with sales tax requirements. It simplifies the processes that take days to complete and finish within only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services, and even medical institutions.
What can it do to help you?
TaxJar is used extensively by online business owners to make their business more simple and organized. Let’s look into their features and services.
Features and services
One of the most important things you’ll need to make sure is your tax-reporting software is compatible along with sales funnels. If you have multiple sales channels, you need to keep everything in place. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key metrics in one spot. So, there’s no requirement to collect data in multiple channels and then organize it on one platform. All you need to do is to integrate TaxJar it will handle the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms they can integrate with:
TaxJar allows clients to submit their sales tax either manually or via TaxJar’s 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 those sales tools. When it comes time to filing income tax returns TaxJar will train you on how to manage them. It is up to you and your staff to finish the tax returns on time. TaxJar is there to provide guidance on what you should do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. This feature will ensure that everything will be automated, from calculating sales tax in order to record and process them. But, it is possible to incur additional costs if the feature is not part of the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be combined into one dashboard using this platform. From there you and your team can access everything you need, like the list of transactions, reports, as well as data.
The most appealing aspect of the feature you’ve chosen is they allow you to update your account automatically each day. Not only can they help you know how much you’ve accumulated and how much you’ve earned, but they also let you determine when your next payment is due.
The dashboard allows users to view in detail the overall sales taxes for your business. You can also export the data in CSV format. CSV file, if you want to use it to aid in accounting and financial planning processes or if your team requires it to run centralized reports.
Training and Streamlining
TaxJar helps organize and keep the track of all your sales channels. That means you won’t have to hunt for your paperwork when you need them in a pinch. Even when you already have your accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operating expenses.
The best part is that TaxJar provides training and tutorials, not just on their platform, but for anything related to sales tax. You can look through their webinars, guides and blog for more information. Additionally, their sales tax calculator should be helpful if you’re planning on complete everything yourself.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they’re sometimes too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing structures and the features that each of these choices can provide you. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan is priced at $19. They say it’s the best plan if you need help with filing requirements or reporting. It includes the tax on sales, 4 autofiles for free each year, and an CSV import. Even with the basic plan, you have access to their AI tax tips.
If you’re a small-scale business proprietor, then this program could be perfect for you. It might not include all the features offered by TaxJar, but it has the basic features you require.
In addition, you can reach their customer support via their email support chart. You’ll also have access to their integration features.
If you’re looking for something different from the basics and options, then the Professional plan may be the best option for you. It starts at $99, however, it could go up when you add additional features.
What is the difference from the basic plan?
In addition to having access to all of the Starter plan’s options, you also have access to their phone customer support access to APIs, as well as the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you run a large company, you may need to go for premium plans instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited integrations with data imports as well as API integrationsfor team users, and AutoFiles.
They also have a team dedicated in managing your accounts. They don’t reveal how much the Premium plan costs you. TaxJar Showing Wrong States
But they did state that this plan is tailor-fit to each user. Therefore, the cost will differ according to what you require for your business.
Fortunately, you don’t need to bet your life on it to see if this platform is right for you. If you’re still looking into different options, they offer 30 days of free trial. This should be enough time to gauge if the platform is a good fit for you.
Pros and Cons
After we’ve gone over everything you must be aware of TaxJar let’s take a break. In order to sum up the whole thing, here are the pros and cons of the use of TaxJar for your business.
- Does the plan include the Tax Advisor option for some plans
- AutoFile features help save 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 is possible to integrate it 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.
- It is important for owners and accountants to check local legislation
The Final Verdict
With everything laid out TaxJar provides a fantastic platform to companies that have multiple sales channels and uses many platforms. If this sounds like the way you’re doing, then you should try this.
Not only will it assist you in keeping track of your revenue and products however, it will also help you meet your deadlines. It is also a great option for accountants as they have a Tax Advisor program. You can find tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can help you get more done while keeping track of every deadline and obligation you have to meet. If you’re living in a region with a lot of tax regulations, this will definitely help you get your head around it. TaxJar Showing Wrong States
If handling your taxes is simple and straightforward, 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 everything. In addition, if you’re finding the entire procedure easy to complete and you’re comfortable with it, you may be better to do it by yourself.
FAQ TaxJar Showing Wrong States
Which areas does TaxJar provide API assistance?
TaxJar currently works with countries like Australia, the United States, the EU, Australia, and Canada.
Do I have the ability to incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to make it easier to monitor and updates.
Can I convert any kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currency values. All transaction amounts are n USdollars. If you’re using a different currency, you’ll need to convert it to USUSD prior to when TaxJar will calculate your tax.