Taxes have always been among the hardest things to do regardless of whether you run a business or not. More so if you don’t have a degree in finance or accounting. Tax-related issues can be overwhelming, particularly when you’re filled with tasks to complete. If you don’t have the budget to employ an accountant, doing it on yourself can be risky. If you make a mistake it could mean you have to redo things again!
Most people want to skipping this step. However, since it’s mandatory to be done, we can’t choose not to.
What is the best way to deal with it?
We can always simplify our lives 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. Although this is quite an extensive read it is possible to gauge whether TaxJar is exactly what you need today.
Are you looking watching videos rather than watch them? Take a look at this video by Marcus Stonelius on YouTube they also do a full review of the features offered by TaxJar.
But for those who prefer to read, we’ll dive right into.
What is TaxJar TaxJar Stripe Subscription
Founded in 2013, TaxJar is a platform that helps automate your reporting, filings and sales tax calculations. It’s a solution for all aspects of your sales tax cycle. Furthermore, you can utilize it across all your channels of sales to ensure that you are in compliance with your sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of minutes.
TaxJar has been used in various industries like food and beverage companies, SaaS, retail, services, and even medical institutions.
How can this help you?
TaxJar is widely used by owners of online businesses to make their business more organized and straightforward. Let’s look into their features and services.
Services and features
One of the first things you’ll need to make sure is your tax-reporting system seamlessly works well along with sales funnels. If you’re selling through multiple channels, you need to ensure that everything is in order. The last thing you want is to get a penalty for overlooking just one minor detail.
TaxJar allows you to show your critical metrics in one spot. That way, there’s no requirement to collect information from multiple sources and sort it into one platform. All you need to do is connect TaxJar and the platform will take care of all the rest.
In addition, TaxJar also integrates with other platforms that help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar allows clients to submit their sales tax manually or through TaxJar’s AutoFile feature. For the purpose of this article, we’ll take a look into both.
If you decide to do it manually, TaxJar will allow you to connect your sales platforms. When it comes time to the filing of income tax returns The team will guide you on managing these. However, it will be up for you and your staff to complete the process within the timeframe. TaxJar will only help you understand what you have to do but not handle it.
If you would prefer an Auto file, TaxJar will do the filling – that means you don’t have to submit the forms in a manual manner. This feature will ensure that everything will be automated from calculating sales taxes through recording, and then processing it. But, it is possible to incur additional costs if the feature is not part of the plan you chose.
Sales Tax Reports
As mentioned earlier that you can utilize TaxJar to ease your accounting issues. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your team will have access to everything you need, such as the list of transactions, reports, as well as information.
The most appealing aspect of this feature is that it lets you to automatically update every day. Not only will they let to know the amount you’ve accumulated and how much you’ve earned, but they also let you track when your following payments are due.
Their dashboard also allows you to see the overall sales taxes for your business. Additionally, you can export your data in CSV format. CSV file if you need it to aid in accounting and financial planning processes or if your team requires it for central reporting.
Streamlining and Training
TaxJar assists in organizing and keeping on top of all your sales channels. That means you won’t have to search for your documents when you need them in a pinch. Even when you already have your accountant, this feature will aid them in being more efficient.
Moreover, knowing the estimates for the sales tax you pay in advance will help you plan your money more efficiently. You’ll be aware of the budget you have available for other operational expenses.
But what’s even better is that TaxJar offers tutorials and training and tutorials, not just on their platform, but all things connected to sales tax. Check out their guides, webinars, and blog for more info. Apart from that 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 establish your budget. Some platforms provide amazing features, but they’re sometimes too expensive for businesses. That’s why for this section we’ll examine TaxJar’s pricing levels and the features that each of these plans can offer. Currently, TaxJar offers three plans: Starter, Professional, and Premium.
The Starter plan costs $19. The company claims that it’s the best plan to help you with filing requirements and reporting. It comes with taxes on sales and sales as well as four autofiles for free each year, and an CSV import. Even with the basic plan, you can access their AI tax advice.
If you’re a small-scale company owner, this plan should be perfect for you. It might not include all the features of TaxJar, but it has the essentials that you need.
In addition, you can reach their customer support via their support chart for email. Additionally, you’ll have access to their integration features.
If you’re looking for something that is more than the basic features Professional might be the right one for you. It starts at $99, but it can go higher by adding custom features.
What is the difference from the original plan?
In addition to having access to all of the Starter plan’s features, you also get access to their phone customer support, 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 choose the Premium plan instead. It includes all of the features needed to help with your taxes. Moreover, they allow unlimited data import integrations, Integrations with APIs, teams of members and AutoFiles.
They also have a staff that is devoted for managing the account. However, they don’t disclose the price of the Premium plan. is going to cost. TaxJar Stripe Subscription
But they did state that this plan is customized for each user. The cost of the plan will be different according to what you require to run your business.
Fortunately, you don’t need to bet your life on it to find out if the platform is for you. If you’re still looking into various options, they provide the opportunity to try a free trial for 30 days. It should give you enough time to gauge whether the service is an excellent fit for you.
Pros and Cons
We’ve covered everything you need to be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of the use of TaxJar to run your business.
- There is the Tax Advisor option for some plans
- AutoFile features help to reduce time
- Available in most USA states
- Provides Taxes on sales online calculator.
- Support Service Team
- The dashboard is simple to navigate
- Offers a 30-day free trial
- It is able to be integrated with other platforms.
- Allows you to track multiple sales channels
- Limits on AutoFile are determined by the plan
- AutoFile has extra fees
- Some countries won’t have access to the API feature.
- Only applicable for USA customers
- Owners and accountants should recheck local legislations
The Final Verdict
With everything clearly laid down, TaxJar is an excellent platform for businesses with numerous sales channels, and that utilizes many platforms. If that’s what you do, then you must try TaxJar.
Not only can it help you track your revenue and products however, it will assist you in meeting the deadlines you set. It’s also an excellent platform for an accountant since they provide tax Advisor program. You can get tips and gain knowledge from their workshops on taxes by using it.
Using TaxJar will help you get more done while keeping the track of each deadline or requirement you need to fulfill. If you’re in a place with complicated tax laws, this will surely help you wrap your head around the subject. TaxJar Stripe Subscription
If handling your taxes is simple and straightforward, then TaxJar might not be a good expense. If you only have one or two channels of sales, TaxJar won’t be needed to keep track of everything. Moreover, if you find the entire procedure easy to complete and you’re comfortable with it, you may be better in doing it all by yourself.
FAQ TaxJar Stripe Subscription
Which areas does TaxJar provide API support?
TaxJar currently works with countries like those of the United States, the EU, Australia, and Canada.
Do I have the ability to connect Shopify together with TaxJar?
Yes. You can connect your Shopify account to TaxJar to facilitate monitoring and updates.
Can I convert any type of currency using TaxJar?
Unfortunately, no. TaxJar does not convert currencies. All transaction amounts are n USdollars. If you’re using another currency, you’ll have to convert it to USUSD before TaxJar will calculate the tax.