Taxes have always been one of the hardest things to do, whether you’re running an enterprise or not. Particularly if you don’t have any experience in finance or accounting. Tax-related issues can be overwhelming, particularly when your whole day is packed with things to do. When you’re not able to afford the budget to engage an accountant doing it on your own can be risky. If you miss one detail, you might have to redo things again!
Almost everyone wants to avoid this step. But since it’s required, we have no choice.
What is the best way to deal with it?
We can always make our lives easier by using tools like TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can help you. Even though this is an extensive read it is possible to assess whether TaxJar is what you need right now.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of the features offered by TaxJar.
If you prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Status Page
In 2013, TaxJar was established. TaxJar is an application that automatizes your filings, reports, and sales tax calculation. It’s a solution for the entire life cycle. Additionally, you can use it across all the sales channels you use to ensure that you are in compliance with your sales taxes. It streamlines processes that require days to complete and is completed in just a few just a few minutes.
TaxJar is used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is used extensively by business owners who run online businesses to make their business more simple and organized. Let’s take a look at their features and services.
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Features and services
Integration
One of the first things you’ll want to check you have a tax accounting platform is compatible with your sales channel. If you’re using multiple sales channels, you must maintain everything in line. The most important thing is not to be penalized for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one place. That way, there’s no need to gather data from different channels and organize it into a single platform. All you need to do is to integrate TaxJar and the platform will do the rest.
Other than that, 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:
Filing
TaxJar allows customers to make sales tax filings either manually or via their AutoFile feature. In our review we’ll dig at both.
If you choose to manually file your tax returns, TaxJar will allow you to connect all the sales channels you use. When the time is right for filing tax returns for income, the team will instruct you on how to manage them. It is up for you and your staff to finish the tax returns in time. TaxJar will only provide guidance on what you have to 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 the forms in a manual manner. With this feature, everything will be automated, from calculating sales tax in order to record and process it. But, it is possible to incur additional costs if the feature is not included in the plan you choose.
Sales Tax Reports
As I mentioned earlier, you can use TaxJar to ease your accounting woes. All orders made through your e-commerce channels can be compiled into a single dashboard through this platform. From there you and your team will have access to all the information you require, including a list of your transactions, reports, as well as data.
The best part about the feature you’ve chosen is they allow you to update automatically every day. They not only let you keep track of how much you’ve earned, but they also help you keep track of when the next payment is due.
The dashboard allows you to see the overall sales taxes for your business. You can also export your data to a CSV file, if you want to use it in your process of financial planning and accounting or if your team needs it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all the sales avenues you use. This means that you don’t have to hunt for your paperwork when you need them when you’re in a pinch. Even if you already have your accounting firm, the feature can help them be more efficient.
Furthermore, knowing the estimated amount for your sales tax ahead of time will allow you to allocate your funds better. You’ll be aware of the budget you have to cover other operating expenses.
But what’s even better is that TaxJar offers tutorials and training not only for their platform , but also everything connected to sales tax. You can look through their webinars, guides as well as their blog to find more information. Apart from that their sales tax calculator can be helpful if you’re planning on take on the entire task yourself.
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How much does TaxJar cost?
We know how crucial it is to set your budget. Certain platforms have amazing features, but they can be too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these choices can provide you. Presently, TaxJar offers three plans: Starter, Professional, and Premium.
Starter
Their Starter plan is priced at $19. They say it’s the most suitable plan for you if you need help with filing requirements or reporting. It comes with the tax on sales, 4 annual AutoFiles for free, as well as an CSV import. Even with the starter plan, you can access their AI tax advice.
If you’re a smaller company manager, the plan should be ideal for you. It might not include all of TaxJar’s features however, it does include the basic features you require.
Additionally, you can contact their customer support via their email support chart. You’ll also have access to their integration capabilities.
Professional
If you’re looking for different from the basic features Professional might be the right one for you. The price starts at $99 but you can increase it by adding custom features.
So how different is it from the original plan?
Apart from having access to all of the Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.
Premium
If you run a large company, you may need to go for premium plans instead. It includes all of the features you need to help with your taxes. Moreover, they allow unlimited data import integrations, API integrations, team users, and AutoFiles.
They also have a staff dedicated to managing your account. However, they don’t disclose how much the Premium plan will cost you. TaxJar Status Page
However, they did mention that this plan is tailor-fit for each user. Therefore, the cost will differ depending on what you need to run your business.
Free Trial
It’s a good thing that you don’t have to gamble your money just to see if this platform is for you. If you’re still considering other options, they have 30 days of free trial. It should give you enough time to determine if the platform is a good fit 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. In order to sum up the whole thing we’ll go over the pros and cons of using TaxJar to run your business.
Pros
- There is a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Provides an online sales tax calculator.
- Support service team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
Cons
- AutoFile limit is based on the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable to USA customers
- It is important for owners and accountants to review local laws
The Final Verdict
With everything clearly laid down, TaxJar can be a great platform businesses with numerous sales channels, and that utilizes many platforms. If this sounds like the way you’re doing, then must try TaxJar.
Not only can it aid in tracking your products and revenue It can help you meet your deadlines. It’s also an excellent opportunity for accountants since they have tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.
Using TaxJar can allow you to get more done while keeping on top of each deadline and requirement you have to meet. If you’re in a region with a lot of tax regulations, this will certainly help you to get your mind around it. TaxJar Status Page
However, if managing your taxes is straightforward and straightforward, then TaxJar could be a waste of expense. If you’re only dealing with one or two channels of sales, TaxJar won’t be needed to keep track of everything. In addition, if you find the whole process easy to do then you’re better to do it by yourself.
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FAQ TaxJar Status Page
Which areas does TaxJar offer API assistance?
TaxJar is currently assisting countries such as the United States, the EU, Australia, and Canada.
Can I incorporate Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Do I have the ability to convert every kind of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar can calculate the tax.
