Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. More so if you don’t have a background in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is filled with tasks to complete. In the event that you do not have the funds to employ an accountant, doing it on yourself can be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to avoid this step. But since it’s required, we have no choice.
So what can we do ?
We can simplify our lives by using tools like TaxJar.
This article will take a look at this life-saving tool and how it can help you. Although this is quite lengthy, you should be able to determine if TaxJar is the tool you require in the present.
Do you prefer to watch videos instead? Take a look at this video by Marcus Stonelius on YouTube they also provide a comprehensive review of the features offered by TaxJar.
For those who like to read, let’s get right into it.
What exactly is TaxJar? TaxJar Sst
Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It is a solution for all aspects of your sales tax cycle. Additionally, you can use it in all of the sales channels you use to ensure compliance with sales taxes. It streamlines processes that require days to complete and can be completed in a matter of only a few minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to make their business more neat and simple. Let’s explore the features and services offered by TaxJar.
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Services and features
Integration
One of the most important things you’ll want to check you have a tax accounting platform perfectly integrates along with sales funnels. If you’re using multiple sales channels, it is essential to ensure that everything is in order. The last thing you want is to get a penalty for missing a single minor point.
TaxJar lets you display your key metrics in one place. So, there’s no need to collect data from different channels and organize it into one platform. All you need to do is connect TaxJar, it will do the rest.
Other than that, TaxJar also integrates with other platforms to assist with payments. Here’s a list of the platforms that they can connect with:
Filing
TaxJar lets customers file their sales taxes manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all those sales tools. Once the time comes for filing income tax returns TaxJar will train you on how to manage them. It is up for you and your staff to finish the tax returns within the timeframe. TaxJar will only guide you on what you need to accomplish, but not manage it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to fill out the forms in a manual manner. With this feature, everything is automated, from calculating sales taxes in order to record and process them. There could be extra fees if you do not include this feature in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be put together into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you require, including an inventory of your transactions, reports, and data.
The best part about this feature is that it allows you to automatically update every day. Not only can they help to know the amount you’ve accumulated, but they also help you determine when your next payment is due.
Their dashboard also allows users to view in detail the sales tax totals in your business. Additionally, you can export the data as the form of a CSV file in case you require it for your process of financial planning and accounting or if you require it to run centralized reports.
Streamlining and Training
TaxJar helps you organize and keep the track of all the sales avenues you use. This means that you don’t have to search for your documents when you need them when you’re in a pinch. Even even if you already have an accounting firm, the feature will help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll be aware of the budget you have available for other operating costs.
What’s more is that TaxJar offers training and tutorials, not just on their platform, but all things related to sales tax. You can look through their webinars, guides as well as their blog to find more info. Apart from that, their sales tax calculator should be useful if you’re planning to complete everything yourself.
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How much does TaxJar cost?
We understand how important it is to establish your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll take a look at TaxJar’s pricing structures and what each of these plans can offer. At present, TaxJar offers three plans that are: Professional, Starter and Premium.
Starter
The Starter plan starts at $19. They claim that it’s the best plan to help you in filing and reporting. It comes with sales tax reporting, four free yearly AutoFiles, and an 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 will be perfect for you. It may not have all the features of TaxJar however, it does include the basic features you require.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
Professional
If you’re looking for something that is more than the basics Professional may be the best option for you. It starts at $99, however, it could go up when you add additional features.
So how different is it from the starter plan?
In addition to having access to every one of Starter plan’s features, you also have their phone customer support, API access, and sophisticated CSV import. They also allow you to have 12 free AutoFiles each year.
Premium
If you run a large enterprise, you may want to go for the Premium plan instead. It comes with all the features needed to aid in your tax preparation. In addition, they offer unlimited integrations with data imports, Integrations with APIs, teams of members, and AutoFiles.
There is also a team dedicated for managing the account. But, they don’t divulge the price of the Premium plan. is going to cost. TaxJar Sst
But they did state that the plan is custom-made for every user. The cost of the plan will be different depending on what you need to run your business.
Free Trial
Fortunately, you don’t need to bet your life on it to determine if this service is the right one for you. If you’re still looking into other options, they have the opportunity to try a free trial for 30 days. This should give you enough time to determine if the platform is the right choice for you.
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Pros and Pros and
Now that we’ve covered all you need to know about TaxJar let’s take a break. To sum it all up, here are the pros and cons of the use of TaxJar to run your business.
Pros
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you save time
- Available in most USA states
- Provides on the internet for sales tax calculator.
- 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
- You can track several sales channels
Cons
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Certain countries will not be able to access the API feature
- Only applicable to USA customers
- Owners and accountants should check local legislation
The Final Verdict
With everything laid out TaxJar can be a great platform companies with multiple sales channels and uses many platforms. If this sounds like the way you do, then you ought to try this.
It’s not just a way to help you track your products and revenue, but it can assist you in meeting your deadlines. This is also an excellent opportunity for accountants since they provide a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Utilizing TaxJar will help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you’re in a region with a lot of tax laws, this will definitely help you get your head around it. TaxJar Sst
But if handling taxes is easy If it isn’t, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of all of it. Moreover, if you find the entire process easy to do then you’re better in doing it all by yourself.
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FAQ TaxJar Sst
Which areas does TaxJar offer API assistance?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify with TaxJar?
Yes. You can connect your Shopify account with TaxJar to facilitate monitoring and updates.
Can I convert any type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transaction amounts are n USdollars. If you’re using another currency, you will need to convert it to USUSD prior to when TaxJar determines your tax.
