Taxes are always one of the most difficult things to handle regardless of whether you run your own business or not. Even more so if you do not have a background in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. In the event that you do not have the funds to hire an accountant, performing the task on your own 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 skipping this step. But , as it’s a requirement, we have no choice.
What can we do about it?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this life-saving device and how it can benefit you. Although this is quite lengthy, you should be able to assess whether TaxJar is what you need right now.
Prefer video streaming instead? Check out this video – by Marcus Stonelius on YouTube they also do a full review of TaxJar’s features.
For those who like to read, let’s dive right in.
What is TaxJar? TaxJar Slide Decks
The company was founded in 2013 TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. TaxJar is a solution to the entire life cycle. Additionally, you can use it in all of your sales channels to make sure you’re in compliance with your sales taxes. It makes the process simpler that could can take days to complete, and finish within only a few minutes.
TaxJar has been used in a variety of industries, including food and beverage companies, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to ensure that everything is neat and simple. Let’s look into the benefits and features of TaxJar.
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Features and services
Integration
One of the most important things you’ll need to make sure you have a tax accounting system is compatible in conjunction with the sales channels you use. If you have multiple sales channels, it is essential to keep everything in place. The last thing you want is to be penalized for not paying attention to a minor thing.
TaxJar allows you to show your most important metrics in one place. That way, there’s no need to collect information from multiple sources and then organize it on one platform. All you need to do is integrate TaxJar, it will take care of the rest.
Other than that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list of platforms they can integrate with:
Filing
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. For our review we’ll look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. When the time is right for filing income tax returns The team will guide you on how to handle these. But, it is up to you and your team to complete everything within the timeframe. TaxJar is there to guide you on what you need to do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out all forms by hand. With this feature, everything will be automated, from calculating sales tax through recording, and then processing it. However, there might be additional charges if they are you do not include this feature in the plan you select.
Sales Tax Reports
As I mentioned earlier that you can utilize TaxJar to assist you with your accounting issues. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform you and your team will have access to everything you require, including a list of your transactions, reports, and information.
The greatest benefit of this option is the fact that it allows you to update your account automatically each day. Not only can they help to know the amount you’ve earned however, they can also help you determine when your next payment is due.
Their dashboard also allows you to fully view the total sales tax for your business. You can also export the information to a CSV file, if you want to use it to aid in financial planning and accounting processes or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to scramble for your documents when you’re in a pinch. Even if you already have your accountant, this feature can aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have to cover other operational costs.
The best part is that TaxJar offers training and tutorials not only for their platform , but also everything that has to do with sales tax. You can look through their guides, webinars, or blog posts for additional information. In addition their sales tax calculator is helpful if you’re planning on do everything on your own.
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How much does TaxJar cost?
We are aware of how important it is to determine your budget. Certain platforms have amazing features, but they can be too expensive for businesses. For this reason we’ll take a look at TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan costs $19. They say it’s the best plan to help you with filing requirements and reporting. It includes taxes on sales and sales as well as four free yearly AutoFiles, and an CSV import. Even with the basic plan, you will be able to access their AI tax recommendations.
If you’re a smaller business owner, this plan could be perfect for you. It may not have all the features of TaxJar however, it does include all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration features.
Professional
If you’re looking for a bit more than just the standard features, then the Professional plan could be the one for you. It’s priced at $99 however, it could go up when you add additional features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s features, you also have their support via phone access to APIs, as well as sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large enterprise, you may want to choose premium plans instead. It comes with all the features needed to help with your taxes. Moreover, they allow unlimited integrations with data imports as well as API integrations, team users as well as AutoFiles.
They also have a team that is devoted in managing your accounts. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Slide Decks
However, they did say that the plan is custom-made to each user. The cost of the plan will be different in line with what you require for your company.
Free Trial
Fortunately, you don’t need to gamble your money just to see if this platform is right for you. If you’re still looking into various options, they provide 30 days of free trial. This should be enough time to gauge if the platform is a good fit for you.
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Pros and Pros and
We’ve covered everything you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the pros and cons of the use of TaxJar to run your business.
Pros
- Has a Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms.
- Allows you to track multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Needs accountants and owners to review local laws
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to businesses with multiple sales channels and uses plenty of platforms. If that sounds like what you’re doing, then you must try TaxJar.
It’s not just a way to aid in tracking your products and revenue however, it will assist you in meeting your deadlines. It is also a great option for accountants as they offer a Tax Advisor program. You can get tips and learn from their sessions regarding taxes via it.
Utilizing TaxJar will help you get more done while keeping the track of each deadline and obligation you have to meet. If you live in an area with complex tax laws, this can certainly help you to get your head around the subject. TaxJar Slide Decks
However, if managing your taxes is straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to keep track of all of it. If you find the entire process easy to do then you’re better in doing it all on your own.
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FAQ TaxJar Slide Decks
What areas does TaxJar provide API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency with TaxJar?
Unfortunately, no. TaxJar does not convert currency values. The transaction amounts are n US$. If you’re using another currency, you’ll need to convert it into US$ before TaxJar determines the tax.
