Taxes are always one of the most difficult tasks to complete, whether you’re running a business or not. Particularly if you don’t have a degree in accounting or finance. Tax-related work can be overwhelming, particularly when your whole day is filled with tasks to complete. If you don’t have the funds to hire an accountant, making it your own could be dangerous. If you miss one detail and you don’t know it, you may have to do it all over again!
Almost everyone wants to skipping this step. But since it’s required, we have no choice.
So what is the best way to deal with it?
We can simplify our lives with tools such as TaxJar.
This article will take a look at this well-known life-saving tool and explain how it can assist you. Although this is quite an extensive read but you’ll be able to gauge whether TaxJar is exactly what you need in the present.
Prefer to watch videos instead? Check out this video – by Marcus Stonelius on YouTube they also give a complete review of TaxJar’s features.
But for those who prefer to read, then we’ll dive right into.
What is TaxJar? TaxJar Stripe Tax Estimate
In 2013, TaxJar was established. TaxJar is a platform that helps automate your filings, reports, and sales tax calculations. TaxJar is a solution to all aspects of your sales tax cycle. Additionally, you can use it across all of your sales channels to ensure compliance with sales tax requirements. It makes the process simpler that could take days to complete and finish within minutes.
TaxJar is used in different industries such as food and beverage companies, SaaS, retail, services and even medical establishments.
How can it help you?
TaxJar is used extensively by owners of online businesses to keep everything neat and simple. Let’s take a look at the features and services offered by TaxJar.
Features and services
One of the most important things you’ll want to check is that your accounting tax system is compatible with your sales channel. If you’re selling through multiple channels, it is essential to keep everything in place. The most important thing is not to get a penalty for not paying attention to a minor thing.
TaxJar allows you to show your critical data in one location. That way, there’s no need to gather data in multiple channels and then organize it on one platform. All you need to do is to integrate TaxJar, then the system will handle the rest.
In addition, TaxJar also integrates with other platforms that can help with payments. Here’s a list of platforms they are able to integrate with:
TaxJar lets customers submit their sales tax either manually or via TaxJar’s AutoFile feature. For this review, we’ll take a look into both.
If you opt to go it alone, TaxJar will allow you to connect those sales tools. Once the time comes for the filing of income tax returns The team will guide you on how to handle the tax returns. It is up to you and your team members to complete everything in time. TaxJar will only guide you on what you have to do , but not to handle it.
If you’d prefer an Auto file, TaxJar will do the filling – that means you don’t have to fill out all forms by hand. Through this feature, everything will be automated from calculating taxes on sales through recording, and then processing them. There could be extra fees if not included in the plan you choose.
Sales Tax Reports
As we mentioned, you can use TaxJar to ease your accounting problems. All orders made through your e-commerce channels can be combined into a single dashboard via this platform. From there you and your staff will have access to all the information you need, such as an inventory of your transactions, reports, and data.
The greatest benefit of the feature you’ve chosen is it allows you to update automatically every day. They not only let to know the amount you’ve earned however, they can also help you track when your following payments are due.
The dashboard allows you to see the sales tax totals within your company. You can also export your data to CSV format. CSV file in case you require it for your accounting and financial planning processes or if your team needs it to run centralized reports.
Training and Streamlining
TaxJar helps you organize and keep track of all of your sales channels. This means that you don’t have to search for your documents when you need them in the event of a need. Even if you already have your accounting firm, the feature can help them be more efficient.
Additionally, knowing the figures for your sales tax ahead of time can help you allocate your money more efficiently. You’ll be aware of the budget you have for other operational expenses.
But what’s even better is that TaxJar offers training and tutorials and tutorials, not just for their platform but everything that has to do with sales tax. Check out their guides, webinars, or blog posts for additional info. Apart from that, their sales tax calculator is beneficial when you’re planning to do everything on your own.
How much does TaxJar cost?
We understand how important it is to determine your budget. Some platforms offer superb features, but they’re sometimes too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing tiers and the features that each of these choices can provide you. Presently, TaxJar offers three plans including Professional, Starter and Premium.
The Starter plan is priced at $19. They say it’s the most suitable plan for you to help you with filing requirements or reporting. It comes with taxes on sales and sales as well as 4 autofiles for free each year, and a CSV import. With the starter plan, you can access their AI tax tips.
If you’re a smaller company owner, this plan could be perfect for you. It may not offer all the features offered by TaxJar but it comes with the essentials that you need.
You can also contact their customer support via their email support chart. Additionally, you’ll have access to their integration capabilities.
If you’re looking to get that is more than the basics, then the Professional plan could be the one for you. It’s priced at $99 but you can increase it when you add additional features.
How different is it from the basic plan?
In addition to accessing each of Starter plan’s features, you also have their phone customer support Access to APIs, phone support, and the ability to do advanced CSV import. Additionally, they allow you to receive 12 free AutoFiles every year.
If you have a massive business, you might need to opt for the Premium plan instead. It has all of the features that you require to help with your taxes. Additionally, they permit unlimited integrations with data imports API integrationsfor team members, and AutoFiles.
There is also a team who are devoted to managing your account. They don’t reveal how much the Premium plan is going to cost. TaxJar Stripe Tax Estimate
However, they did say that the plan is custom-made to each user. The cost of the plan will be different in line with what you require for your business.
It’s a good thing that you don’t have to risk your money to find out if the platform is for you. If you’re still considering various options, they provide 30 days of free trial. This should give you enough time to see whether the software is an excellent fit for you.
Pros and Pros and
We’ve covered everything you need to know about TaxJar let’s take a breather. To summarize Here are the pros and cons of the use of TaxJar for your business.
- Does the plan include a Tax Advisor option for some plans
- AutoFile features can help you to reduce time
- Available in most USA states
- Offers an online sales tax calculator.
- Has support service team
- The dashboard is simple to navigate
- The company offers a 30-day trial for free.
- It is possible to integrate it 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 be able to access the API feature.
- Only applicable to USA customers.
- Needs accountants and owners to check local legislation
The Final Verdict
With everything clearly laid down, TaxJar provides a fantastic platform to businesses with numerous sales channels, and that utilizes plenty of platforms. If that sounds like what you do, then you ought to try this.
Not only will it help you track the sales and profits of your business It can assist you in meeting the deadlines you set. It is also a great platform for an accountant since they provide tax Advisor program. You can find tips and learn from their sessions about taxes through it.
The use of TaxJar can help you reduce time and keep track of every deadline and obligation you have to fulfill. If you’re in a region with a lot of tax laws, this can surely help you wrap your head around it. TaxJar Stripe Tax Estimate
If handling your taxes is straightforward and straightforward, then TaxJar may be an unnecessary expense. If you’re only dealing with one or two sales channels, TaxJar won’t be needed to track all of it. In addition, if you’re finding the entire process easy to do and you’re comfortable with it, you may be better off doing it on your own.
FAQ TaxJar Stripe Tax Estimate
Which areas does TaxJar provide API assistance?
TaxJar currently supports countries like the United States, the EU, Australia, and Canada.
Can I connect Shopify together with TaxJar?
Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.
Are there any ways to exchange one type of currency with TaxJar?
Unfortunately, no. TaxJar doesn’t convert currencies. All transaction amounts are n USdollars. If you’re using another currency, you will need to convert it into USdollars before TaxJar can calculate the tax.