Taxes have always been among the most difficult tasks to complete regardless of whether you’re running an enterprise or not. More so if you don’t have a background in accounting or finance. Tax-related issues can be overwhelming, particularly when you’re full of things to be done. When you’re not able to afford enough money to engage an accountant performing the task on yourself can be risky. If you miss one detail, you might have to do it all over again!
Nearly everyone would prefer to skipping this step. However, since it’s mandatory, we have no choice.
So what can we do ?
It is always possible to make life easier by using tools like TaxJar.
We’ll look at this well-known life-saving device and how it can help you. While this is a long read, you should be able to assess whether TaxJar is the tool you require today.
Prefer watching videos rather than watch them? Watch this video – by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
For those who like to read, we’ll dive right into.
What is TaxJar? TaxJar State
The company was founded in 2013 TaxJar is an online platform that assists you in automating your filings, reports, 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 your sales taxes. It makes the process simpler that could require days to complete and is completed in just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is widely used by owners of online businesses to keep everything simple and organized. Let’s look into the features and services offered by TaxJar.
Services and features
One of the most important things you’ll need to ensure you have a tax accounting software perfectly integrates in conjunction with the sales channels you use. If you’re using multiple sales channels, you must maintain everything in line. The final thing you would like is to face a penalty due to not paying attention to a minor thing.
TaxJar allows you to display your most important metrics in one spot. This means that there is no need to gather data in multiple channels and sort it into one platform. All you need to do is connect TaxJar and the platform will handle 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 are able to integrate with:
TaxJar lets customers make sales tax filings either manually or via their AutoFile feature. In this review, we’ll take a look into both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all your sales platforms. Once the time comes for the filing of income tax returns TaxJar will train you on how to manage these. But, it is up to you and your team to complete everything in time. TaxJar is there to help you understand what you should do , but not to handle it.
If you prefer an Auto file, TaxJar will do the filling, which means you don’t have to submit any forms manually. With this feature, everything will be 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 it is possible to use TaxJar to help you with your accounting woes. Your orders from your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your staff will have access to everything you need, such as the list of transactions, reports and information.
The most appealing aspect of the feature you’ve chosen is they allow you to update your account automatically each day. Not only will they let to know the amount you’ve earned and how much you’ve earned, but they also let you keep track of when the next payments are due.
Their dashboard can also allow you to fully view the overall sales taxes within your company. You can also export the data as CSV format. CSV file, if you want to use it in your process of financial planning and accounting or if your team needs it to run centralized reports.
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’re in a pinch. Even if you already have your accountant, this function will make them more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds more effectively. You’ll know exactly how much budget you have for other operational costs.
But what’s even better is that TaxJar provides training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. You can look through their guides, webinars, as well as their blog to find more information. Additionally the sales tax calculator can be beneficial when you’re planning to take on the entire task yourself.
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 your business. For this reason we’ll take a look at TaxJar’s pricing tiers and what each of those choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. They claim that it’s the most suitable plan for you if you need help with filing requirements or reporting. It also includes the tax on sales, 4 free yearly AutoFiles, and an CSV import. Even with the starter plan, you can access their AI tax tips.
If you’re a small-scale company proprietor, then this program could be ideal for you. It may not have all the features offered by TaxJar however, it does include the basic features you require.
You can also contact their customer support via their support chart for email. Additionally, you’ll have access to their integration capabilities.
If you’re looking for something a bit more than just the basic features Professional might be the right one for you. It starts at $99, but you can increase it when you add additional features.
What is the difference from the basic plan?
In addition to accessing each of Starter plan’s features, you also have their support via phone, API access, and the ability to do advanced CSV import. They also allow you to get 12 AutoFiles for free each year.
If you run a large business, you might need to opt for an upgrade instead. It includes all of the features that you require to make your tax filing easier. In addition, they offer unlimited import integrations of data API integrationsfor team users as well as AutoFiles.
They also have a staff dedicated for managing the account. They don’t reveal the price of the Premium plan. will cost you. TaxJar State
However, they did say that this plan is customized for each user. The cost of the plan will be different according to what you require for your company.
It’s a good thing that you don’t have to risk your money to determine if this service is for you. If you’re still looking into various options, they provide a 30-day free trial. This should be enough time to gauge whether the service is an excellent fit for you.
Pros and Pros and
We’ve covered everything you should know about TaxJar let’s take a break. In order to sum up the whole thing, here are the advantages and disadvantages of the use of TaxJar for your business.
- Has the Tax Advisor option for some plans
- AutoFile features save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- It allows you to monitor multiple sales channels
- 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.
- Needs accountants and owners to review local laws
The Final Verdict
With everything clearly laid out TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then ought to try this.
Not only can it help you track your revenue and products however, it will also help you meet your deadlines. It is also a great option for accountants as they provide the Tax Advisor program. There are tips to follow and get knowledge from their seminars about taxes through it.
Using TaxJar can allow you to get more done while keeping track of every deadline and requirement you have to fulfill. If you’re in a place with complicated tax laws, this will surely help you wrap your head around it. TaxJar State
If handling taxes is easy and straightforward, then TaxJar may be an unnecessary investment. If you have only one or two sales channels, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do and you’re comfortable with it, you may be better to do it on your own.
FAQ TaxJar State
What are the areas in which TaxJar provide API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Can I incorporate Shopify into TaxJar?
Yes. You can sync your Shopify account to TaxJar for easier monitoring and updates.
Do I have the ability to convert every type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All of the transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it into US$ before TaxJar will calculate your tax.