Taxes are always one of the hardest things to do regardless of whether you’re running a business or not. Particularly if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, especially when your whole day is full of things to be done. In the event that you do not have the funds to engage an accountant doing it on yourself can be risky. If you overlook one thing and you don’t know it, you may have to redo things again!
Most people want to skipping this step. However, since it’s mandatory and mandatory, there’s no other choice.
What is the best way to deal with it?
It is always possible to make life easier with tools such as TaxJar.
We’ll look at this popular life-saving tool and how it can assist you. Even though this is an extensive read it is possible to assess whether TaxJar is exactly what you need right now.
Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
If you prefer to read, then let’s get right into it.
What is TaxJar TaxJar Stripe Accounts
In 2013, TaxJar was established. TaxJar is an application that automatizes your reporting, 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 of your sales channels to ensure compliance with sales tax requirements. It streamlines processes that take days to complete and can be completed in a matter of minutes.
TaxJar has been utilized in different industries such as food and beverage businesses, SaaS, retail, services as well as medical institutions.
How can it help you?
TaxJar is widely used by online business owners to keep everything simple and organized. Let’s explore their features and services.
Services and features
One of the first things you’ll need to ensure is your tax-reporting system perfectly integrates in conjunction with the sales channels you use. If you’re selling through multiple channels, it is essential to maintain everything in line. The final thing you would like is to get a penalty for overlooking just one minor detail.
TaxJar allows you to display your key data in one location. This means that there is no need to collect information from multiple sources and organize it into a single platform. All you have to do is connect TaxJar then the system will handle all the rest.
Apart from that, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of platforms they can integrate with:
TaxJar allows clients to submit their sales tax manually or through the AutoFile feature. In our review we’ll look at both.
If you choose to do it manually, TaxJar will allow you to connect the sales channels you use. When it comes time to filing tax returns for income TaxJar will train you on how to handle the tax returns. It is up for you and your staff to finish the tax returns within the timeframe. TaxJar will only guide you on what you should do but not handle it.
If you prefer an Auto file, TaxJar will do the filling for you. This means that you don’t have to fill out the forms in a manual manner. This feature will ensure that everything will be automated from calculating taxes on sales to recording and processing them. There could be extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned that you can utilize TaxJar to help you with your accounting woes. The orders you place through your online channels can be compiled into a single dashboard through this platform. Once you’re on the platform, you and your team will have access to all the information you require, including the list of transactions, reports, and the data.
The greatest benefit of this feature is that they allow you to update your account automatically each day. Not only can they help to know the amount you’ve collected, but they also help you track when your following payment is due.
Their dashboard can also allow you to see the sales tax totals in your business. It is also possible to export the data as the form of a CSV file, if you want to use it in your financial planning and accounting processes or if your team needs it for central reporting.
Training and Streamlining
TaxJar assists in organizing and keeping the track of all the channels you sell through. That means you won’t have to search for your documents when you need them in a pinch. Even even if you already have an accounting firm, the feature will make them more efficient.
Moreover, knowing the estimates for your sales tax ahead of time can help you allocate your money more efficiently. You’ll know better how much budget you have available for other operational expenses.
The best part is that TaxJar provides training and tutorials, not just for their platform but for anything related to sales tax. You can check out their guides, webinars, or blog posts for additional information. Additionally the sales tax calculator can be helpful if you’re planning on 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’re sometimes too costly for your business. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these plans can offer. At present, TaxJar offers three plans including Professional, Starter and Premium.
Their Starter plan starts at $19. The company claims that it’s the best plan for those who need assistance in filing and reporting. It includes sales tax reporting, four autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax advice.
If you’re a smaller business manager, the plan will be ideal for you. It might not include all of TaxJar’s features but it comes with all the basics you require.
In addition, you can reach their support team with their support chart for email. You’ll also have access to their integration capabilities.
If you’re looking to get a bit more than just the basic features, then the Professional plan might be the right one for you. It starts at $99, but you can increase it when you add additional features.
So how different is it from the basic plan?
In addition to having access to each of Starter plan’s options, you also have access to their support via phone Access to APIs, phone support, and the ability to do advanced CSV import. They also allow you to receive 12 free AutoFiles every year.
If you have a massive company, you may need to go for premium plans instead. It includes all of the features that you require to help with your taxes. Moreover, they allow unlimited integrations with data imports, API integrationsfor team users, and AutoFiles.
They also have a staff that is devoted in managing your accounts. They don’t reveal the amount that the Premium plan will cost you. TaxJar Stripe Accounts
However, they did say that the plan is custom-made for each user. Therefore, the cost will differ in line with what you require for your company.
Luckily, you don’t have to risk your money to determine if this service is for you. If you’re still considering various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the software is a good fit for you.
Pros and Pros and
We’ve covered everything you should be aware of TaxJar Let’s relax. To summarize Here are the pros and cons of the use of TaxJar for your business.
- Has a Tax Advisor option for some plans
- AutoFile features help save time
- Available in most USA states
- Offers Taxes on sales online calculator.
- Support Service Team
- The dashboard is easy to navigate
- The company offers a 30-day trial for free.
- It can be integrated with other platforms
- You can track several sales channels
- Limits for AutoFile are based on the plan
- AutoFile has extra fees
- Certain countries will not have access to the API feature.
- Only applicable for USA customers.
- It is important for owners and accountants to recheck local legislations
The Final Verdict
With everything clearly laid out, TaxJar can be a great platform businesses with many sales channels and utilizes plenty of platforms. If that’s what you’re doing, then you ought to try this.
Not only will it help you track the sales and profits of your business It can help you meet your deadlines. This is also an excellent opportunity for accountants since they provide the Tax Advisor program. You can find tips and gain knowledge from their workshops about taxes through it.
The use of TaxJar can allow you to reduce time and keep track of every deadline or requirement you need to fulfill. If you’re living in a place with complicated tax laws, this will definitely help you get your head around the subject. TaxJar Stripe Accounts
But if handling taxes is easy, then TaxJar could be a waste of investment. If you have only one or two channels of sales, TaxJar won’t be needed to track all of it. In addition, if you find the whole process easy to do then you’re better in doing it all on your own.
FAQ TaxJar Stripe Accounts
What areas does TaxJar offer API assistance?
TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to integrate Shopify together with TaxJar?
Yes. You can sync your Shopify account with TaxJar to make it easier to monitor and updates.
Are there any ways to exchange one kind of currency with TaxJar?
Unfortunately, no. TaxJar cannot convert currencies. All transaction amounts are n US$. If you’re using a different currency, you will need to convert it into US$ prior to when TaxJar can calculate the tax.