Taxes are always one of the most difficult things to handle regardless of whether you’re running a business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related work aren’t easy, particularly when your whole day is filled with tasks to complete. If you don’t have enough money to engage an accountant making it your own could be dangerous. If you miss one detail it could mean you have to redo things again!
Most people want to skip this step. However, since it’s mandatory to be done, we can’t choose not to.
So what is the best way to deal with it?
It is always possible to make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and how it can help you. While this is an extensive read it is possible to determine if TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Watch 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, then let’s get right into it.
What is TaxJar? TaxJar Sign Up
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. TaxJar is a solution to the entire life cycle. Additionally, you can use it across all of your channels of sales to make sure you’re in compliance with sales taxes. It streamlines processes that can take days to complete, and finish within minutes.
TaxJar has been used 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 widely used by online business owners to ensure that everything is simple and organized. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax platform seamlessly works well with your sales channel. If you’re using multiple sales channels, you must ensure that everything is in order. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your most important metrics in one spot. This means that there is no need to collect data in multiple channels and sort it into one platform. All you need to do is integrate TaxJar, then the system will take care of the rest.
Apart from that, TaxJar also integrates with other platforms to assist with payments. Here’s a list highlighting the platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax by hand or using their AutoFile feature. In our review we’ll take a look at both.
If you decide to do it manually, TaxJar will allow you to connect all those sales tools. Once the time comes for the filing of income tax returns, the team will instruct you on how to handle these. It is up to you and your team to complete the process on time. TaxJar will only provide guidance on what you should accomplish, but not manage it.
If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out all forms by hand. With this feature, everything is automated, from calculating sales taxes in order to record and process it. But, it is possible to incur extra fees if not part of the plan you select.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to assist you with 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 everything you need, like a list of your transactions, reports, as well as information.
The most appealing aspect of the feature you’ve chosen is they allow you to update automatically every day. Not only will they let you know how much you’ve accumulated however, they can also help you track when your following payment is due.
Their dashboard can also allow you to fully view the total sales tax within your company. You can also export the data in CSV format. CSV file, if you want to use it in your accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar helps organize and keep track of all of the sales avenues you use. It means you don’t need to scramble for your documents when you need them when you’re in a pinch. Even even if you already have an accountant, this function will make them more efficient.
Additionally, knowing the figures for your sales tax in advance can help you allocate your funds better. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training not only on their platform, but for anything connected to sales tax. You can look through their webinars, guides, as well as their blog to find more information. Additionally their sales tax calculator can be useful if you’re planning to complete everything yourself.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms offer superb capabilities, but they’re often too costly for your business. For this reason we’ll take a look at TaxJar’s pricing levels and the features that each of these options can offer you. Presently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan costs $19. They claim that it’s the most suitable plan for you to help you with filing requirements or reporting. It includes taxes on sales and sales as well as 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you will be able to access their AI tax tips.
If you’re a small company manager, the plan could be perfect for you. It may not have all the features of TaxJar but it comes with the basic features you require.
Additionally, you can contact their customer support via their support chart for email. You’ll also be able to use their integration tools.
If you’re looking for something a bit more than just the basics, then the Professional plan might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the starter plan?
In addition to having access to all of the Starter plan’s features, you also get access to their support via phone 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 have a massive enterprise, you may want to go for the Premium plan instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited import integrations of data, Integrations with APIs, teams of members and AutoFiles.
They also have a team that is devoted in managing your accounts. But, they don’t divulge the amount that the Premium plan is going to cost. TaxJar Sign Up
However, they did mention that this plan is tailor-fit for 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 for you. If you’re still looking into different options, they offer a 30-day free trial. This should be enough time to gauge if the platform is a good fit for you.
Pros and Pros and
After we’ve gone over everything you need to know about TaxJar let’s take a breather. To summarize 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 to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Some countries won’t be able to access the API feature
- Only applicable for USA customers.
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out, TaxJar is an excellent platform for companies with many sales channels and utilizes numerous platforms. If this sounds like the way you’re doing, then should try this.
Not only can it help you track your revenue and products, but it can also help you meet the deadlines you set. It is also a great platform for an accountant since they provide the Tax Advisor program. There are tips to follow and gain knowledge from their workshops regarding taxes via it.
The use of TaxJar can allow you to save more time while keeping the track of each deadline and obligation you have to meet. If you’re in a region with a lot of tax laws, this can surely help you wrap your mind around it. TaxJar Sign Up
However, if managing your taxes is straightforward and straightforward, then TaxJar may be an unnecessary investment. If you only have one or two sales channels, TaxJar won’t be needed to keep track of everything. If you find the entire procedure simple to follow, you might be better in doing it all on your own.
FAQ TaxJar Sign Up
What are the areas in which TaxJar provide API support?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I connect Shopify into TaxJar?
Yes. You can sync your Shopify account with TaxJar to facilitate monitoring and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you will need to convert it into USdollars before TaxJar can calculate your tax.