Taxes have always been one of the hardest things to do regardless of whether you run your own business or not. Particularly if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when you’re filled with tasks to complete. In the event that you do not have enough money to engage an accountant doing it on your own could be risky. If you make a mistake it could mean you need to repeat the process!
Most people want to avoid this step. However, since it’s mandatory, we have no choice.
So , what is the best way to deal with it?
We can always simplify our lives by using tools like TaxJar.
Here we’ll take a look at this popular life-saving tool and how it can help you. Although this is quite lengthy, you should be able to assess whether TaxJar is the tool you require today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also give a complete analysis of TaxJar’s features.
But for those who prefer to read, then let’s dive right in.
What exactly is TaxJar? TaxJar Status
In 2013, TaxJar was established. TaxJar is an application that automatizes your reports, filings, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. In addition, you can apply it across all your channels of sales to ensure that you are in compliance with sales taxes. It simplifies the processes that take days to complete and can be completed in a matter of just a few minutes.
TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services as well as medical institutions.
What can it do to help you?
TaxJar is used extensively by owners of online businesses to ensure that everything is organized and straightforward. Let’s explore the benefits and features of TaxJar.
Services and features
One of the first things you’ll want to check you have a tax accounting system perfectly integrates with your sales channel. If you’re using multiple sales channels, it is essential to ensure that everything is in order. 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 spot. So, there’s no need to gather information from multiple sources and then organize it on a single platform. All you have to do is integrate TaxJar, and the platform will take care of the rest.
Apart from that, TaxJar also integrates with other platforms that help in the process of making payments. Here’s a list highlighting the platforms they can integrate with:
TaxJar lets customers file their sales taxes by hand or using their AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you decide to go it alone, TaxJar will allow you to connect all of the sales channels you use. When it comes time to filing tax returns for income, the team will instruct you on how to handle the tax returns. However, it will be up for you and your staff to complete the process on time. TaxJar is there to guide you on what you have to accomplish, but not manage it.
If you’d prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to submit any forms manually. Through this feature, everything will be automated from calculating sales tax through recording, and then processing it. But, it is possible to incur additional charges if they are not included in the plan you chose.
Sales Tax Reports
As we mentioned it is possible to use TaxJar to ease your accounting problems. The orders you place through your online channels can be put together into a single dashboard through this platform. From there you and your staff can access everything you need, like an inventory of your transactions, reports, and the data.
The best part about this feature is that 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 determine when your next payment is due.
Their dashboard also allows you to fully view the sales tax totals within your company. You can also export the data in CSV format. 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 when you already have your accountant, this function will help them be more efficient.
Moreover, knowing the estimates for your sales tax in advance can help you allocate your money more efficiently. You’ll know better how much budget you have available for other operating expenses.
The best part is that TaxJar offers tutorials and training and tutorials, not just for their platform but all things that has to do with sales tax. You can look through their guides, webinars, and blog for more info. In addition, their sales tax calculator can be beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We are aware of how important it is to determine your budget. Some platforms provide amazing features, but they’re sometimes too costly for your business. That’s why for this section we’ll examine TaxJar’s pricing levels and what each of those choices can provide you. At present, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan starts at $19. They claim that it’s the most effective plan to help you with filing requirements and 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 advice.
If you’re a small-scale company owner, this plan should be ideal for you. It might not include all the features offered by TaxJar however, it does include all the basics you require.
Additionally, you can contact the support team via their email support chart. You’ll also be able to use their integration features.
If you’re looking for something a bit more than just the basics Professional might be the right one for you. It’s priced at $99 however, it could go up by adding custom features.
How different is it from the original plan?
In addition to accessing all of the Starter plan’s options, you also have access to their support via phone, API access, and the ability to do advanced CSV import. You can also receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for premium plans instead. It has all of the features you need to make your tax filing easier. In addition, they offer unlimited data import integrations Integrations with APIs, teams of members as well as AutoFiles.
There is also a team that is devoted for managing the account. However, they don’t disclose how much the Premium plan costs you. TaxJar Status
However, they did say that this plan is customized for every user. The cost of the plan will be different in line with what you require to run your business.
It’s a good thing that you don’t have to risk your money to see if this platform is for you. If you’re still looking into other options, they have a 30-day free trial. This should give you enough time to determine whether the software is a good fit for you.
Pros and Pros and
After we’ve gone over everything you must know about TaxJar Let’s relax. To summarize we’ll go over the pros and cons of using TaxJar for your company.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Offers Taxes on sales online calculator
- Support Service Team
- The dashboard is simple to navigate
- It offers a free trial of 30 days.
- It is able to be integrated with other platforms.
- It allows you to monitor multiple sales channels
- 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 recheck local legislations
The Final Verdict
With everything laid down, TaxJar provides a fantastic platform to companies that have multiple sales channels and uses plenty of platforms. If that’s what you’re doing, then you must try TaxJar.
Not only can it aid in tracking the sales and profits of your business It can also help you meet your deadlines. This is also an excellent option for accountants as they provide the Tax Advisor program. You can find tips and learn from their sessions about taxes through it.
Utilizing TaxJar will help you reduce time and keep the track of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will surely help you wrap your head around it. TaxJar Status
But if handling your taxes is straightforward If it isn’t, then TaxJar could be a waste of expense. If you have only one or two channels for sales, TaxJar won’t be needed to track all of it. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Status
What areas does TaxJar offer API support?
TaxJar currently works with countries like the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify with 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 currency values. All of the transactions’ amounts are in US$. If you’re using a different currency, you will need to convert it to US$ prior to when TaxJar can calculate your tax.