Taxes have always been among the hardest things to do, whether you’re running an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related work can be overwhelming, especially when you’re full of things to be done. If you don’t have enough money to engage an accountant doing it on your own can be dangerous. If you overlook one thing it could mean you need to repeat the process!
Most people want to skip this step. However, since it’s mandatory, we have no choice.
So , what can we do about it?
We can make life easier with tools such as TaxJar.
We’ll look at this life-saving device and how it can benefit you. Although this is quite lengthy but you’ll be able to determine if TaxJar is what you need today.
Are you looking to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Spree
In 2013, TaxJar was established. TaxJar is a platform that helps automate your reports, filings, and sales tax calculation. TaxJar is a solution to all aspects of your sales tax cycle. Furthermore, you can utilize it across all of the sales channels you use to make sure you’re in compliance with sales taxes. It streamlines processes that require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.
What can it do to help you?
TaxJar is used extensively by online business owners to ensure that everything is organized and straightforward. Let’s look into the benefits and features of TaxJar.
Features and services
One of the first things you’ll want to check is that your accounting tax software seamlessly works well with your sales channel. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to be penalized for missing a single minor point.
TaxJar lets you display your critical metrics in one spot. So, there’s no need to gather data in multiple channels and sort it into a single platform. All you have to do is to integrate TaxJar, and the platform will handle the rest.
In addition, TaxJar also integrates with other platforms to assist in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar allows customers to make sales tax filings by hand or using TaxJar’s AutoFile feature. In this review, we’ll take a look into both.
If you decide to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. Once the time comes for the filing of income tax returns TaxJar will train you on how to handle the tax returns. But, it is up to you and your staff to complete everything within the timeframe. TaxJar will only provide guidance on what you need to 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. This feature will ensure that everything is automated, from calculating sales tax in order to record and process them. There could be additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier it is possible to use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be combined into one dashboard using this platform. From there you and your staff will have access to all the information you need, like an inventory of your transactions, reports, and the data.
The greatest benefit of this feature is that they allow you to automatically update every day. They not only let to know the amount you’ve earned, but they also help you track when your following payments are due.
Their dashboard can also allow you to see the total sales tax within your company. It is also possible to export your data as the form of a CSV file in case you require it for your financial planning and accounting processes or if you require it for central reporting.
Streamlining and Training
TaxJar helps organize and keep the track of all your sales channels. It means you don’t need to hunt for your paperwork whenever you’re when you’re in a pinch. Even when you already have your accountant, this feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know exactly how much budget you have available for other operational costs.
The best part is that TaxJar provides training and tutorials not only for their platform but all things that has to do with sales tax. Check out their guides, webinars, as well as their blog to find more details. Apart from that, their sales tax calculator is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We know how crucial it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for the business you run. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of these choices can provide you. Currently, TaxJar offers three plans that are: Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the best plan to help you with filing requirements or reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as a CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a small-scale company proprietor, then this program could be perfect for you. It might not include all the features offered by TaxJar however, it does include the essentials that you need.
You can also contact their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking for a bit more than just the standard features and options, then the Professional plan might be the right one for you. The price starts at $99 however, it could go up when you add additional features.
How different is it from the basic plan?
Apart from having access to each of Starter plan’s options, you also have access to their phone customer support, API access, and advanced CSV import. You can also get 12 AutoFiles for free each year.
If you run a large enterprise, you may want to choose an upgrade instead. It includes all of the features you need to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, API integrations, team members and AutoFiles.
There is also a team dedicated to managing your account. But, they don’t divulge the price of the Premium plan. will cost you. TaxJar Spree
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.
Luckily, you don’t have to gamble your money just to see if this platform is for you. If you’re still considering different options, they offer a 30-day free trial. This should give you enough time to determine if the platform is a good fit for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a breather. To sum it all up, here are the advantages and disadvantages of using TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- Support Service Team
- The dashboard is easy to navigate
- Offers a 30-day free trial
- It can be integrated with other platforms
- Allows you to track 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 valid for USA customers.
- It is important for owners and accountants to review local laws
The Final Verdict
With everything laid out TaxJar can be a great platform companies with numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then must try TaxJar.
It’s not just a way to aid in tracking the sales and profits of your business however, it will help you meet your deadlines. It’s also an excellent opportunity for accountants since they have the Tax Advisor program. You can get tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to save more time while keeping track of every deadline and obligation you have to meet. If you live in a place with complicated tax laws, this can certainly help you to get your mind around it. TaxJar Spree
But if handling your taxes is simple and straightforward, then TaxJar might not be a good investment. If you have only one or two channels of sales, TaxJar won’t be needed to track everything. If you find the whole procedure easy to complete and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar Spree
Which areas does TaxJar provide API support?
TaxJar currently supports countries like Australia, the United States, the EU, Australia, and Canada.
Can I incorporate Shopify with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any kind of currency using TaxJar?
Unfortunately, no. TaxJar cannot convert currency values. All transactions’ amounts are in USdollars. If you’re using a different currency, you will need to convert it into USdollars prior to when TaxJar will calculate your tax.