Taxes are always one of the most difficult things to handle regardless of whether you run a business or not. Even more so if you do not have any experience in accounting or finance. Tax-related issues can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford enough money to employ an accountant, doing it on your own could be dangerous. If you miss one detail, you might have to redo things again!
Nearly everyone would prefer 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 simplify our lives by using tools like TaxJar.
We’ll look at this life-saving tool and how it can benefit you. Even though this is an extensive read, you should be able to determine if TaxJar is exactly what you need right now.
Do you prefer video streaming 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, let’s get right into it.
What is TaxJar TaxJar State Table
Founded in 2013, TaxJar is an online platform that assists you in automating your reporting, filings and sales tax calculations. It’s 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 tax requirements. It makes the process simpler that could can take days to complete, and is completed in just a few only a few minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services and even medical establishments.
How can this help you?
TaxJar is extensively used by online business owners to keep everything organized and straightforward. Let’s look into the features and services offered by TaxJar.
Features and services
One of the first things you’ll want to check is that your accounting tax system seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to keep everything in place. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your most important data in one location. This means that there is no need to collect data from different channels and sort it into a single platform. All you have to do is to integrate TaxJar it will do the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payments. Here’s a list highlighting the platforms that they can connect with:
TaxJar lets customers file their sales taxes either manually or via the AutoFile feature. In our review we’ll look into both.
If you opt to do it manually, TaxJar will allow you to connect all the sales channels you use. When it comes time to filing income tax returns The team will guide you on how to handle these. However, it will be up for you and your team to complete everything on time. TaxJar is there to provide guidance on what you should accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling, which means you won’t need to fill out any forms manually. With this feature, everything will be automated from calculating sales taxes in order to record and process it. There could be additional costs if the feature is not included in the plan you select.
Sales Tax Reports
As mentioned earlier, you can use TaxJar to help you with your accounting issues. Your orders from your e-commerce channels can be combined into one dashboard using this platform. Once you’re on the platform you and your team will have access to all the information you need, like an inventory of your transactions, reports, and the data.
The most appealing aspect of the feature you’ve chosen is it lets you to update your account automatically each day. They not only let to know the amount you’ve accumulated, but they also help you track when your following payment is due.
Their dashboard also allows you to fully view the overall sales taxes for your business. It is also possible to export your data as the form of a CSV file if you need it for your financial planning and accounting processes or if you require it for centralized reporting.
Streamlining and Training
TaxJar helps you organize and keep track of all of the sales avenues you use. That means you won’t have to search for your documents when you need them when you’re in a pinch. Even if you already have your accountant, this feature can make them more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance can help you allocate your funds better. You’ll know exactly how much budget you have to cover other operating costs.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform but everything connected to sales tax. Check out their webinars, guides as well as their blog to find more information. Apart from that, their sales tax calculator is helpful if you’re planning on do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to establish your budget. Some platforms provide amazing features, but they can be too costly for the business you run. That’s why for this section we’ll examine TaxJar’s pricing structures and what each of these choices can provide you. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan costs $19. They say it’s the most suitable plan for you to help you with filing requirements or reporting. It also includes sales tax reporting, four free yearly AutoFiles, and the option of a CSV import. With the starter plan, you will be able to access their AI tax recommendations.
If you’re a smaller company owner, this plan could be perfect for you. It may not have all the features of TaxJar but it comes with all the basics you require.
In addition, you can reach their support team with their email support chart. You’ll also have access to their integration capabilities.
If you’re looking for a bit more than just the basics, 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.
So how different is it from the starter plan?
In addition to accessing every one of Starter plan’s features, you also have the support of their customer service via phone access to APIs, as well as sophisticated CSV import. You can also get 12 AutoFiles for free each year.
If you have a massive enterprise, you may want to choose the Premium plan instead. It includes all of the features needed to aid in your tax preparation. Moreover, they allow unlimited integrations with data imports, API integrationsfor team members, and AutoFiles.
They also have a team dedicated to managing your account. They don’t reveal the amount that the Premium plan is going to cost. TaxJar State Table
However, they did say that the plan is custom-made for each user. So the costs will vary depending on what you need for your company.
It’s a good thing that you don’t have to gamble your money just to determine if this service is right for you. If you’re still considering other options, they have a 30-day free trial. It should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you must know about TaxJar Let’s relax. To sum it all up Here are the advantages and disadvantages of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features to reduce time
- Available in most USA states
- Provides an online sales tax calculator.
- Support Service Team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- 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
- Some countries won’t be able to access the API feature.
- Only applicable for USA customers.
- Owners and accountants should review local laws
The Final Verdict
With everything clearly laid out TaxJar provides a fantastic platform to companies with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you’re doing, then you ought to try this.
Not only can it aid in tracking your products and revenue It can help you meet your deadlines. It’s also an excellent option for accountants as they offer a Tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar can allow you to save more time while keeping the track of each deadline or requirement you need to meet. If you’re in an area with complex tax laws, this can certainly help you to get your mind around it. TaxJar State Table
However, if managing taxes is easy and 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 everything. Moreover, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better off doing it by yourself.
FAQ TaxJar State Table
What areas does TaxJar offer API support?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. The transaction amounts are n USdollars. If you’re using another currency, you’ll need to convert it to USdollars before TaxJar determines the tax.